The UK Government has announced that it has completed its first sale of the English student loan book. The sale raised £1.7 billion with a face value of £3.54 billion The sale included loans issued by English Local Authorities under the previous (pre-2012) system, specifically those that entered repayment between 2002 and 2006. The loan…

Intrum has entered into an agreement to acquire CAF S.p.A (CAF), the third largest servicer of non-performing loans in Italy In addition, Intrum has acquired a large, diversified debt portfolio serviced by CAF. The seller of CAF and of the debt portfolio serviced by CAF are affiliates of Lone Star Funds, a global private equity…

Italian financial specialist, UniCredit has agreed to sell a portfolio of non-performing loans (NPLs) to Italian merchant bank Mediobanca and New York-based private arm of Cerberus Capital Management. The portfolio of secured and unsecured credits has a gross value of around €715m ($852.7m) and is part of a major drive by UniCredit to clear non-performing…

European debt purchaser, DDM Holding has announced that it has entered into an agreement to acquire a distressed asset portfolio containing secured and unsecured SME receivables in Serbia from a leading bank in the region. The gross collection value of the portfolio amounts to approximately EUR 15 million. The acquisition is financed by cash on hand.…

European Debt Purchaser, Lowell, has announced its latest quarterly results showing another positive quarter of growth for the period 1 July to 30 September 2017. Highlights from the results include: 21% y-o-y increase in Cash Income to £152m 12% y-o-y increase in Cash EBITDA to £78m 18% y-o-y increase in Estimated Remaining Collections (ERC) to…

Cabot Credit Management has completed the acquisition of Wescot Credit Services , a leading UK contingency debt collection and business process outsourcing (BPO) services business. Ken Stannard, Chief Executive Officer, Cabot said “We are delighted to welcome Wescot to our company and we are excited this acquisition has coincided with winning a major outsourcing contract…

Italian debt purchaser MBCredit Solutions has completed the acquisition of the “Sherazade” portfolio from Intesa Sanpaolo, comprising a stock of unsecured non-performing exposures (NPEs) with a nominal value of approx €600million. The agreement consolidates the Mediobanca Group company’s leadership position in the retail unsecured NPE segment, with MBCredit Solutions now a leading player in the…

New figures released by the Finance & Leasing Association (FLA) show growth of 3% in consumer finance new business in September, compared with the same month last year. In Q3 2017, new business grew by 6% compared with the same quarter in 2016. In September, credit card and personal loan new business together grew by…

Arrow Global Group has announced its results for the nine months ended 30 September 2017 (Q3 2017). Commenting on the results Lee Rochford, Group Chief Executive Officer, said “In the first nine months of the year, Arrow continued to grow strongly and profitably. Portfolio purchases in the period increased by 30%, and we are on track…

Hoist Finance has appointed Klaus-Anders Nysteen as new CEO. Nysteen has a long and broad experience from the financial industry in companies such as Storebrand Bank, where he was CEO for four years, and most recently as CEO of Lindorff Group. Adding to that Nysteenhas a proven track record as a leader and vast experience…

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