Hugo Velez to Kathimerini: Securitizations a tool in the fight against NPLs

With significant experience in the management of nonperforming loans (NPLs) and real estate owned properties (REOs), and more than 20 billion euros of managed assets, HipoGes Iberia, a KKR group company, enters the Greek market under the dual capacity of NPL manager and real estate services provider.

Transferring the experience of countries such as Spain, Italy and Portugal, whose banking systems have faced high levels of nonperforming loans, the general manager of HipoGes, Hugo Velez, speaks to Kathimerini about the plans of the Spanish group in Greece and explains why the market of NPL servicers, which already counts 20 licensed firms in this country, will gradually consolidate into fewer players.

Following the acquisition of Alsvit, a company which provides real estate services mainly to Greek banks, HipoGes is expected to play a significant role in the real estate...