The four big loan service firms dominating the Greek market continued posting strong profits in 2025, despite the fact that extensive securitization has gradually shrunk loan portfolios.
To replace those, servicers are concluding new contracts with banks and international investors and looking at the secondary nonperforming loan market. The cumulative net profits of Cepal, doValue Greece, Intrum Hellas and QQuant reached €122 million in 2025, almost 7% lower than in 2024 (€131.2 million).
Intrum remained by far the most profitable, with net profits of €60.6 million, almost stable compared to 2024. The other three posted almost identical net profits of around €20 million, but followed different routes: doValue profits shrunk, while Cepal’s rose significantly.
Despite that, doValue remains the biggest servicer in terms of the size of its loan portfolios, with more than €35 billion under management, followed by Cepal (€30 billion), Intrum (€20.8 billion, down from €23.7 billion in 2024) and QQuant (€17 billion, up from €10 billion).
All four companies’ managements agree that, in 2026, the secondhand nonperforming loan market will become increasingly important in 2026, as will re-performing portfolios, that is, once nonperforming loans that have returned to a regular repayment schedule. They also anticipate more securitizations.
