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AstroBank Acquires QQuant Master Servicer Cyprus

AstroBank Acquires QQuant Master Servicer Cyprus

Qualco Group and AstroBank announce the acquisition of QQuant Master Servicer Cyprus Limited by AstroBank.

According to a statement, the parties have agreed that AstroBank, which held 25.1% of QQuant, shall acquire the remaining 74.9% of the share capital, which was previously held by the Qualco Group.

Over the past two years, QQuant’s partnership with AstroBank has contributed substantially to more effective management of non-performing loans with a significant reduction in the NPL ratio and sales of AstroBank properties.

Qualco Group intends to continue its business in Cyprus as well as its cooperation with AstroBank through a contract to manage part of the lender’s NPE portfolio.

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