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…

A new European Consumer Payment Report, from debt collection specialist Intrum, has shown that parents are vulnerable to social pressure, forcing them to spend more money on their children than they can afford. Every third parent in Europe has experienced social pressure during the past year to buy something for their children that they feel…

The effects of a ‘hard’ Brexit will be decisive for the innovation capacity and competitiveness of the British automotive industry according to new research by Coface. After an exceptional peak in production of vehicles recorded in mid-2016 (1.02 million unit sales, up 8.5% for the January-August period compared to the same period in 2015), 2017…

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.…

The Central Bank of Ireland has fined Intesa Sanpaolo  €1,000,000 and reprimanded it for four breaches of the Criminal Justice (Money Laundering & Terrorist Financing) Act, 2010 (the ‘CJA 2010’).  Intesa admits the four breaches. The Central Bank’s enforcement investigation identified significant failures in Intesa’s controls, policies and procedures in respect of anti-money laundering and…

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…

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…

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…

Deceased account management specialist, Phillips & Cohen Associates has announced changes to strengthen its senior leadership team. In the re-organisation, Nick Cherry moves up to the role of Chief Operating Officer for the global organization. Cherry, who has been with the business since 2010, previously fulfilled the role of Managing Director of PCA International and…

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