Nova Fides Licensed as Credit Services Institution by BaFin

• Authorised to handle commercial loans under the Secondary Credit Market Act
• Visible demand for advisory and administrative services for non-performing loans

Frankfurt, 7 October 2024 – Nova Fides GmbH, a consultancy firm for the comprehensive managing and restructuring of loans and investments, has been licensed as a credit services institution for commercial loans in accordance with the Secondary Credit Market Act (KrZwMG) by the German Supervisory Authority for Financial Services (BaFin). This authorises Nova Fides to manage non-performing loans (or NPL for short) on behalf of purchasers active on the secondary credit market.

“We have noted strong demand for transactions on the secondary credit market. In the coming months, banks will increasingly start to divest themselves of non-performing loans. This will generate keen demand for advisory and administrative services. Under the Secondary Credit Market Act, purchasers must go through licensed credit services institutions. For Nova Fides, the BaFin license to operate as a credit services institution represents a major component in its range of services,” said Annette Benner, Managing Director of Nova Fides.

Nova Fides GmbH was formed as a consultancy firm for the comprehensive managing and restructuring of real estate loans and investments in 2023. Nova Fides assists and advises financiers and loan purchasers whenever financing have become distressed due to the current market situation.

“Although we have our roots in real estate financing, we are superbly positioned thanks to our BaFin license, our knowledge and our experience to manage other commercial financing arrangements whose collateral is something other than real estate. Many lenders and purchasers may now draw on our resources and know-how in order to respond adequately to the multi-layered and complex issues associated with restructurings or NPL transactions, and to avoid the liability risks that often come into play,” said Dr. Gordon Geiser, Managing Director of Nova Fides.