Diglo, Santander’s servicer, made a profit of €3m in 2023, more than double that of 2022, when it posted a profit of €1m, according to the bank’s annual report.

In addition, it has launched a technology investment plan for the period 2024-2025 with an amount of more than €4 million.

The aim of the plan, according to sources from the ‘servicer’ explained to Europa Press, is to boost the efficiency of daily internal procedures through automation and the application of artificial intelligence, which will, in turn, result in an improvement in the quality of customer service.

With regard to its activity during 2023, the firm has managed more than 400,000 contracts for debt recovery in the non-performing loan portfolios (NPLs) business and has recorded a 10% increase in the recovery rate on managed stock of NPL compared to 2022.

In addition, the portfolio turnover has been above 30% of published properties, while in the business of managing real estate assets acquired in foreclosure processes (REOs), the servicer has managed nearly 4,000 properties.

Diglo began operating in early 2022 as Santander Group’s real estate servicer under the Deva umbrella, with a total portfolio of more than €5 billion in assets.

Its function is to manage assets acquired in foreclosures (REOs) and non-performing loans (NPLs) of both Santander Group and third parties. In the REOs area, these 4,000 assets of various types (primary residences, holiday homes, logistics assets, residential and offices) spread throughout Spain are grouped together, while in the NPLs business, at the start of its operations, it had around 200,000 contracts under management, 70% of which were SMEs.

This ‘servicer’ is headquartered in Madrid and has ten branches in seven regions: Western and Eastern Andalusia, Catalonia, Central, Levante, Northwest and North, although the network covers the whole of Spain.

Original Story: Bolsamania | Author: Europa Press
Translation and edition: Prime Yield