Nordic Trustee GmbH Secures NPL Servicing License from BaFin
We are excited to announce that Nordic Trustee GmbH has become one of the first loan agencies and loan servicers in Germany to obtain the new NPL Servicing License from the German Federal Financial Supervisory Authority (BaFin), under the Secondary Credit Market Act (Kreditzweitmarktgesetz). This license aligns with the European Union's Credit Servicers and Credit Purchasers Directive (EU) 2021/2167.
With this new BaFin license, which is now required for servicing non-performing loan (NPL) portfolios on behalf of non-bank entities, Nordic Trustee GmbH is further strengthening its position in the market. The regulation also encompasses loan agency roles for newly originated syndicated and bilateral loans, particularly when loans become non-performing, and bank lenders transfer their claims to non-bank entities.
In addition to the NPL servicing license, Nordic Trustee GmbH continues to hold the German Collection License (Inkassoerlaubnis) under the German Legal Services Act (RDG), as well as registration as a PSD2 Agent authorized to provide payment services under the German Payment Services Supervisory Act (ZAG). This broad licensing framework ensures we are fully equipped to meet both regulatory and market demands, offering a wide range of services across Europe, including:
- Loan Agency
- Security Agency
- Bond Agency
- Loan Servicing
- Special Servicing
- Payment Services
Dr. Stefan Luthringshauser, CEO of Nordic Trustee Germany, comments: “Our new NPL servicing license underscores our commitment to upholding the highest standards of service and reliability in a highly regulated financial environment. It reflects our ongoing dedication to meeting the evolving needs of our clients.”
