InsiderBusinessAstroBank acquires QQuant Master Servicer Cyprus Limited

AstroBank acquires QQuant Master Servicer Cyprus Limited

Qualco Group and AstroBank on Thursday announced the acquisition of QQuant Master Servicer Cyprus Limited (Company) by AstroBank.

The two sides have agreed that AstroBank, which owned 25.1% of the Company, will buy the remaining 74.9% of the share capital, which was owned by Qualco.

“During the past two years, the Company’s collaboration with AstroBank contributed substantively towards better management of its non-performing loans, leading to a significant reduction in the NPE ratio while boosting AstroBank real estate sales,” a press release by Astrobank said.

Qualco Group plans to continue its activity in Cyprus and its collaboration with AstroBank through an agreement to manage part of the lender’s NPE portfolio.

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