EL Bank of Greece has approved the application of Mount Street Hellas S.A.M.R.L.C., part of Mount Street Group, for managing loans and credit claims in Greece. Mount Street Hellas has been established under the provisions of Law 4354/2015, its scope being the servicing of non-performing loans to businesses and individuals secured by real estate or other types of collateral.
The award of the licence comes after a comprehensive evaluation process by the Bank of Greece which examined Mount Street’s ownership, personnel, policies, systems and processes and now enables Mount Street Hellas to service non-performing loans for banks and NPL buyers.
The newly awarded licence adds to the existing regulatory approvals Mount Street has in Europe and the US and expands the services we can offer from our successful Athens office.
Ravi Joseph, CEO of Mount Street commented “We are delighted to have been granted our credit servicing licence in Greece and are confident this will enable us to continue to expand our Greek business providing solutions to address Greece’s €100bn non-performing loan market.”
For any questions, please contact George Generalis (George Generalis@mountstreetllp.com) or Petros Zabetas (Petros.Zabetas@mountstreetllp.com) in our Athens office.