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Summary
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Good Money From Bad Debt
Bad debt has reached colossal proportions in Europe. Deadbeats owe German banks and businesses $280 billion. Nonperforming credits come to $180 billion in both France and Italy, to $100 billion in the United Kingdom, and to $30 billion in Spain. Is there money to be made from all this bad credit?

The take-away: A few large banks have recognized a business opportunity in managing their own and other companies' nonperforming credits on an industrial scale. Companies that get the techniques and the organization right could earn annual profits of $150 million.
  


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1992-2003 McKinsey & Company, Inc

 

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