Post by account_disabled on Mar 13, 2024 2:26:48 GMT -6
The four large servicers in Spain, Intrum Solvia, Hipoges Iberia, doValue and Anticipa-Aliseda manage assets worth more than 175 billion euros, according to the Assets Under Management Observatory prepared by Axis Corporate. Thus, these four entities hold 80% of the Spanish market share in terms of large servicers and account for 60% of the doubtful assets or NPAs in the country.
Specifically, Intrum Solvia had a 24.39% share at the end of 2022, with just over €51.3 billion in assets under management, despite the loss of Sareb's portfolio within the framework of the SMO project.
However, its agreement to purchase HRE from Phone Lead Cerberus and the award of Caixabank 's real estate portfolio under the Beat Project has placed it as one of the protagonists of the first half of 2023, according to Axis. Once the purchase is completed, Instrum Solvia will increase its volume of managed assets to above 65 billion euros.
For its part, Hipoges Iberia increased its market share from 11.05% in 2021 to 22.62% in 2022, with more than 47.5 billion euros in assets thanks to the award of part of the Sareb portfolio already their positions in Portugal.
As for Anticipa-Aliseda, it has recorded a year-on-year increase in its assets under management of more than 30% thanks to the awarding of the other part of Sareb's portfolio, which brings it back to the top positions in the ranking. by volume with approximately 30.5 billion euros.
Finally, doValue maintains a prominent position at the end of 2022 despite the end of the contract with Sareb, with assets valued at just under 33,000 million euros and a market share of 15.6%, according to figures offered by Axis.
Axis Corporate partner and asset management expert, Gonzalo Ortega, has stated that the announced consolidation of this sector is beginning to show its first steps with corporate operations and the concentration of management contracts.
Axis has commented that in the next five years it is expected that up to nine service contracts will end , which together with operations such as the creation of Diglo by Santander, the sale of Finsolutia or the purchase of Haya by Intrum make us think that this trend will continue. will accelerate in the coming years.
As an example of the need to make the resources needed by the sector more efficient, in the VI edition of the Assets Under Management Observatory it is observed that despite the 19% increase in the average price of properties sold by servicers compared to 2020, placing the average at 97,526 euros, the results of the servicers have generally decreased compared to the previous year.
Specifically, Intrum Solvia had a 24.39% share at the end of 2022, with just over €51.3 billion in assets under management, despite the loss of Sareb's portfolio within the framework of the SMO project.
However, its agreement to purchase HRE from Phone Lead Cerberus and the award of Caixabank 's real estate portfolio under the Beat Project has placed it as one of the protagonists of the first half of 2023, according to Axis. Once the purchase is completed, Instrum Solvia will increase its volume of managed assets to above 65 billion euros.
For its part, Hipoges Iberia increased its market share from 11.05% in 2021 to 22.62% in 2022, with more than 47.5 billion euros in assets thanks to the award of part of the Sareb portfolio already their positions in Portugal.
As for Anticipa-Aliseda, it has recorded a year-on-year increase in its assets under management of more than 30% thanks to the awarding of the other part of Sareb's portfolio, which brings it back to the top positions in the ranking. by volume with approximately 30.5 billion euros.
Finally, doValue maintains a prominent position at the end of 2022 despite the end of the contract with Sareb, with assets valued at just under 33,000 million euros and a market share of 15.6%, according to figures offered by Axis.
Axis Corporate partner and asset management expert, Gonzalo Ortega, has stated that the announced consolidation of this sector is beginning to show its first steps with corporate operations and the concentration of management contracts.
Axis has commented that in the next five years it is expected that up to nine service contracts will end , which together with operations such as the creation of Diglo by Santander, the sale of Finsolutia or the purchase of Haya by Intrum make us think that this trend will continue. will accelerate in the coming years.
As an example of the need to make the resources needed by the sector more efficient, in the VI edition of the Assets Under Management Observatory it is observed that despite the 19% increase in the average price of properties sold by servicers compared to 2020, placing the average at 97,526 euros, the results of the servicers have generally decreased compared to the previous year.