Article on Debtwire: Clifford Tjiok and Thomas Spulak analyze the German NPL market

3. Sep 2025

The German banking market is currently facing major challenges – and interesting opportunities for investors. In a recent article on Debtwire, our CCO and member of the Management Board Clifford Tjiok and Thomas Spulak from Proceed Portfolio Services shed light on developments in the area of non-performing loans (NPL).

The most important findings:

  • Sharp rise in NPL volumes: The volume of non-performing loans has grown significantly in a short space of time and could reach around EUR 60 billion by 2025.

  • Particular pressure in the commercial real estate sector: falling valuations, rising refinancing costs and rent defaults are exacerbating the situation.

  • Diverse strategies of the banks: The spectrum ranges from restructuring, STARUG and ESUG procedures to NPL sales and transfers to special purpose vehicles.

LOANCOS supports investors in successfully positioning themselves in this complex environment – from analysis to the implementation of individual investment strategies. Feel free to contact us!

To the article on Debtwire

Picture: Pixabay / karolinagrabowska

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