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.
