doValue S.p.A. formerly doBank S.p.A. is an Italian financial service company based in Verona, Veneto region. The company, a former bank, was known as UniCredit Credit Management Bank until 2015. In 2015, the company was acquired by private equity funds of Fortress Investment Group. Soon after the company started their initial public offering; the bank became a component of FTSE Italia Mid Cap Index in August 2017.[3]
In 2000, the lending business of Mediovenezie was transferred to sister company, while the bank itself had transformed into UniCredito Gestione Crediti, a bank specializing in credit management.
In 2008, the bank was renamed into UniCredit Credit Management Bank which also managed the non-performing loans (NPLs) of former Capitalia Group. In 2011, UniCredit Credit Management absorbed Aspra Finance S.p.A..
At 31 December 2012, the book value of the company was valued as €3.3 billion. In 2013, UniCredit write-down €620 million for the value of UniCredit Credit Management, to €2.7 billion. In 2014, a further write-down of €1.5 million was made.
In 2015, UniCredit Credit Management, along with a portfolio of €2.4 billion gross book value of NPLs was sold to private equity fund of Fortress Investment Group (Eurocastle Investment Limited for 50% stake in doBank and NPLs) [9] and Prelios for an undisclosed amount. The NPLs assets of doBank was separately owned by Romeo SPV S.r.l. on 30 September 2016, which doBank owned 5% of the SPV, Eurocastle Investment owned 47.5% directly (additional 2.5% via doBank) and the rest (47.5%) was owned by other shareholders.
In 2016, Italfondiario was acquired by doBank from Fortress.[10]
In 2017, doBank became a listed company.[11]
In June 2019, the company was renamed to doValue and withdrew its banking license.[12] At the end of June 2019, doValue acquired 85% of Altamira Asset Management, active in the problematic credit sector and present in Spain, Portugal, Cyprus, Greece, for 360 million.[13]
On June 5, 2020, it completed the purchase from Eurobank for 211 million euros of 80% of Fps, a Greek servicing company.[14]
