PRECS’ mission is to implement the best strategies for the valuation of non-performing loans in order to reduce the gap between purchase price and book value
This allows the originator banks to minimize the impact on profit and loss in accordance with the requirements of the ECB.
PRECS has secured a crucial strategic position on the non-performing loans market as a first mover in the implementation of innovative solutions for the derecognition of non-performing loans. It promoted the first multi-originator NPL operation in 2015. In 2016, it launched the first public operation in nine years and the first to use the innovative NPL securitisation guarantee known as GACS (Garanzia Cartolarizzazione Sofferenze). PRECS is the Special and Master Servicer for 75% of public operations in Italy.