DoValue plans to diversify beyond non-performing loans after €19 mln net loss

Italian debt recovery company doValue, which is also active in Greece, plans to diversify its sources of revenue beyond non-performing loans, its CEO said on Friday, after it reported a €19 million net loss for 2023.

Healthier bank balance sheets mean levels of impaired loans remained low, it said, reporting a 10% drop in collections ahead of the presentation of a new business plan on March 21.

"Diversification strategy is key to our resilience and long term profitability", CEO Manuela Franchi said on a conference call with analysts.

She said doValue would soon launch an investor advisory service and that there were opportunities in Spain where banks were outsourcing more of their NPL recovery operations.

DoValue's shares, which were down 27.9% year-to-date at Thursday's close, dropped by as much as 8% on Friday and were last down 3.9% on Friday.