The Bank completed the establishment of a specialized Company, Alpha Real Estate Management & Investments S.A (“AREMI”), September 2018. The scope of the company is to apply an active asset management to all real estate owned assets not used by the Group, from investment appraisal to final exit. In particular, when the Bank acquires the ownership of real estate properties in the course of NPE management, Alpha Real Estate Management and Investments SA is responsible for:
- Monitoring the repossession procedure (asset on-boarding) and following this the assets’ assignment to the appropriate asset servicers within or outside of the Group.
- Monitoring and coordinating the assets’ management.
- Monitoring and coordinating the assets’ commercialization according to the Group’s policy into force.
- Setting and monitoring appropriate Key Performance Indicators (KPIs) for the asset servicers.