At the same time, Belchior delved into the technological platform we use at Auxadi to make life easier for our clients and how, in fact, they trust us as integral support in the administrative and financial services of their portfolios. This relationship of trust allows our teams to integrate into their organizational structure while each client focuses on their core business and increases the profitability of their investments.
On Friday the presentations and panel discussions focused on Germany, the Netherlands, and Central and Eastern Europe and the specifics of the NPL market in the different regions. Among other aspects, it was highlighted how in Germany, in recent months, banks such as HSH, Deutsche Bank and Nord/LB have cleaned up their balance sheets with the sale of different NPL portfolios. In the Netherlands, the focus was on how bad debt is mainly concentrated in the commercial sector, while portfolio operations are mainly focused on the residential sector.
Following networking sessions with participants, Rima Yousfan, our Head of Real Estate & International Corporate BPO, outlined the structuring of NPL acquisitions in Spain through Luxembourg. She reviewed our company’s extensive experience in the NPL sector, and announced the imminent opening of a new office in Luxembourg where our team of experts will be responsible for our clients’ accounting, corporate administration, tax compliance and fiduciary services. Included in her presentation were details on the structures set up from Luxembourg and the purchase of NPL, explaining how ReoCo is financed to pay the Luxembourg company for the acquisition of the rights, as well as the different taxes involved in all phases of the structure.
The discussion on the situation of the Real Estate market in Greece and Italy closed the 9th edition of this event, which in November will arrive in Madrid to focus on the Spanish market.