doValue

doValue S.p.A. is an Italian financial-services company headquartered in Verona, in the Veneto region. Its business is centered on the management and servicing of credit portfolios, particularly non-performing loans and other distressed or problematic exposures. Although the company developed from a banking institution, its modern identity is that of a specialized credit-management and asset-servicing provider rather than a conventional deposit-taking bank. The organization traces its institutional history to Istituto di Credito Fondiario delle Venezie, founded in 1949 to finance public works and public utilities. The institution later became Credito Fondiario delle Venezie S.p.A. and, in 1995, was combined with Mediocredito delle Venezie and Federalcasse Banca to create Mediovenezie Banca. It was associated first with the Cariverona Banca Group, then with Unicredito Group and, following the 1998 consolidation, UniCredito Italiano Group. A major strategic shift took place around 2000, when the lending activities were transferred to a sister company and the remaining institution was transformed into a credit-management bank called UniCredito Gestione Crediti. In 2008, it adopted the name UniCredit Credit Management Bank and became particularly associated with the management of non-performing loans, including portfolios originating from the former Capitalia banking group. The company also expanded its servicing capabilities through the absorption of Aspra Finance in 2011. In 2015, UniCredit Credit Management Bank and a related portfolio of non-performing loans were sold by UniCredit to investment vehicles associated with Fortress Investment Group and other parties. The business was subsequently branded doBank. It acquired Italfondiario in 2016, strengthening its position in credit servicing and related financial operations, and completed an initial public offering in 2017. Its shares subsequently became part of the FTSE Italia Mid Cap Index. The company changed its name to doValue in June 2019 and relinquished its banking license. The rebranding reflected a broader positioning as a pan-European credit and real-estate asset-services platform. Later in 2019, doValue acquired an 85 percent interest in Altamira Asset Management, a company active in problematic credit and present in Spain, Portugal, Cyprus, and Greece. In 2020, it completed the purchase of an 80 percent stake in the Greek servicing company FPS from Eurobank. The doValue model is based on servicing credit and real-estate assets for institutional investors, banks, and other financial stakeholders. Its activities can include loan administration, collection and recovery, restructuring support, management of distressed exposures, and the handling of assets connected with non-performing loans. The available reference material does not provide current revenue, employee, ownership, or executive information. It also does not establish a current corporate website URL or stock ticker, so those fields are left unspecified.

The institutional history of doValue begins in 1949 with the establishment of Istituto di Credito Fondiario delle Venezie, an Italian bank focused on financing public works and public-utility projects. In 1992, the institution was converted from a statutory corporation into a company limited by shares and renamed Credito Fondiario delle Venezie S.p.A. In 1995, Credito Fondiario delle Venezie merged with Mediocredito delle Venezie, which specialized in medium-term industrial lending, and Federalcasse Banca, an inter-bank lending institution serving Veneto savings banks. The resulting organization was named Mediovenezie Banca. It belonged to the Cariverona Banca Group before becoming part of Unicredito Group. In 1998, Unicredito became part of the larger UniCredito Italiano Group. The business changed direction in 2000. Its lending operations were transferred to a sister company, while the remaining bank was reorganized as UniCredito Gestione Crediti, an institution focused on credit management. In 2008, the company was renamed UniCredit Credit Management Bank. Its activities included the management of non-performing loans, including exposures associated with the former Capitalia banking group. In 2011, it absorbed Aspra Finance S.p.A., adding to its credit-management operations. The company underwent another major transformation in 2015, when UniCredit Credit Management Bank and a related non-performing-loan portfolio were sold to investment vehicles connected with Fortress Investment Group and other parties. The operating business became known as doBank. The related loan assets were held through a separate special-purpose vehicle, with ownership divided among doBank, Eurocastle Investment, and other shareholders. In 2016, doBank acquired Italfondiario from Fortress. The acquisition supported the development of a larger specialist platform for credit servicing. In 2017, doBank completed an initial public offering and its shares later entered the FTSE Italia Mid Cap Index. In June 2019, the company changed its name to doValue and withdrew its banking license. The change represented a shift away from the identity of a bank and toward a multi-market platform focused on credit servicing, non-performing loans, and related real-estate assets. Later that month, doValue acquired an 85 percent stake in Altamira Asset Management. Altamira operated in the problematic-credit sector and had a presence in Spain, Portugal, Cyprus, and Greece, giving doValue a broader international footprint. In 2020, doValue completed the acquisition from Eurobank of an 80 percent interest in FPS, a Greek servicing company, for the reported consideration described in the reference material. This transaction reinforced the group’s position in the Greek credit-servicing market. Across these stages, the enterprise evolved from a public-works and industrial-lending institution into a UniCredit credit-management subsidiary, then into a listed specialist servicer with a wider European operating model.

• 2020

  Acquisition of 80 percent of FPS

  [1]DoValueen.wikipedia.org

  doValue completed its purchase from Eurobank of a majority stake in the Greek servicing company FPS.

• 2019

  Adoption of the doValue name

  [1]DoValueen.wikipedia.org

  The company rebranded as doValue and withdrew its banking license.

• 2019

  Acquisition of 85 percent of Altamira Asset Management

  [1]DoValueen.wikipedia.org

  The acquisition expanded doValue’s operations into additional European problematic-credit markets.

• 2017

  Initial public offering

  [1]DoValueen.wikipedia.org

  doBank became a listed company and was subsequently included in the FTSE Italia Mid Cap Index.

• 2016

  Acquisition of Italfondiario

  [1]DoValueen.wikipedia.org

  doBank acquired Italfondiario, strengthening its specialist servicing platform.

• 2015

  Business sold and rebranded as doBank

  [1]DoValueen.wikipedia.org

  The credit-management bank and an associated non-performing-loan portfolio were sold in a transaction involving Fortress-related investment vehicles.

• 2011

  Absorption of Aspra Finance

  [1]DoValueen.wikipedia.org

  UniCredit Credit Management Bank absorbed Aspra Finance S.p.A.

• 2008

  Renamed UniCredit Credit Management Bank

  [1]DoValueen.wikipedia.org

  The company adopted a name reflecting its specialization in credit management and non-performing loans.

• 2000

  Strategic transition to credit management

  [1]DoValueen.wikipedia.org

  The lending business was transferred to a sister company and the remaining institution became UniCredito Gestione Crediti.

• 1995

  Formation of Mediovenezie Banca

  [1]DoValueen.wikipedia.org

  Credito Fondiario delle Venezie merged with Mediocredito delle Venezie and Federalcasse Banca.

• 1992

  Conversion into a company limited by shares

  [1]DoValueen.wikipedia.org

  Istituto di Credito Fondiario delle Venezie became Credito Fondiario delle Venezie S.p.A.

• 1949

  Institution established as Istituto di Credito Fondiario delle Venezie

  [1]DoValueen.wikipedia.org

  The predecessor institution was founded to provide financing for public works and public-utility projects.

A specialized, pan-European credit-servicing and distressed-asset management platform rather than a traditional retail bank.

• Credit servicing

  Non-performing loan servicing

  Management of non-performing and distressed loan portfolios on behalf of banks, investment vehicles, and institutional investors. Activities may include administration, borrower-contact processes, recovery management, restructuring support, and coordination of enforcement or disposal strategies.

• Financial services

  Credit collection and recovery

  Specialized collection and recovery services for problematic credit exposures. The offering is associated with the company’s evolution from a bank into a dedicated credit-management platform.

• Asset servicing · 2019

  Distressed real-estate asset servicing

  Management of real-estate assets and related processes arising from non-performing loans and other distressed-credit situations. The international expansion through Altamira broadened the group’s exposure to this area.

• 2020

  Acquisition of FPSM&A

  Background

  doValue continued expanding its Greek credit-servicing operations.

  Action taken

  The company completed the purchase from Eurobank of an 80 percent stake in FPS.

  Aftermath

  The acquisition reinforced doValue’s position in the Greek servicing market.

  Reported consideration. €211 million (2020)

  Source

• 2019

  Rebranding as doValue and withdrawal of banking licenseStrategy

  Background

  The company was broadening beyond its historical banking identity toward credit servicing and distressed-asset management.

  Action taken

  It changed its name from doBank to doValue and withdrew its banking license.

  Aftermath

  The change positioned the group as a non-bank, pan-European credit and real-estate asset-services provider.

  Source

• 2019

  Acquisition of Altamira Asset ManagementM&A

  Background

  doValue pursued international expansion in problematic credit and related asset management.

  Action taken

  It acquired an 85 percent stake in Altamira Asset Management.

  Aftermath

  The deal expanded doValue’s presence across Spain, Portugal, Cyprus, and Greece.

  Reported consideration. €360 million (2019)

  Source

• 2017

  Initial public offeringOther

  Background

  Following its development as an independent credit servicer, doBank pursued access to public equity markets.

  Action taken

  The company completed an initial public offering and became listed.

  Aftermath

  The shares later became part of the FTSE Italia Mid Cap Index.

  Source

• 2016

  Acquisition of ItalfondiarioM&A

  Background

  doBank sought to expand its credit-servicing capabilities after separating from UniCredit.

  Action taken

  doBank acquired Italfondiario from Fortress.

  Aftermath

  The transaction strengthened the group’s Italian servicing platform.

  Source

• 2015

  Sale of UniCredit Credit Management BankM&A

  Background

  UniCredit’s credit-management bank was transferred to investment vehicles associated with Fortress Investment Group and other parties alongside a non-performing-loan portfolio.

  Action taken

  The business was separated from UniCredit ownership and subsequently operated under the doBank name.

  Aftermath

  The transaction established the corporate platform that later became doValue and supported its development as an independent specialist servicer.

  Source

1. 1DoValueen.wikipedia.org