Lindorff/Intrum Justitia would be interested in buying an Italian bank’s debt collection business to expand in the country, the head of the Scandinavian group’s Italian unit said.

Antonella Pagano Lindorff/Intrum Justitia’s Managing Director for Italy, said “We would like to be among the top three players in the Italian market in three-to-five years’ time. Buying a bank’s debt collection business would allow the Scandinavian firm to expand quickly,  That’s what we did in Spain where Lindorff bought Santander’s (debt collection) platform Aktua. We are interested in similar assets with a long-term management contract.”

Italy’s 350 billion euro ($418 billion) impaired debt market has attracted interest from international investors hunting for high returns from risky assets that banks are under pressure to shed.

Source: Reuters