Credit, Collections & Insolvency News
Greece’s largest lender Piraeus Bank has announced that it has agreed to sell a 1.45 billion euro portfolio of secured, non-performing business loans to Bain Capital Credit as part of moves to reduce its bad debts. Greek banks have been under regulatory pressure to tackle their bad debt problem, which restricts their ability to expand…
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New research by Intrum suggests that GDPR is unknown to more than one out of four European businesses. The report shows that 27 percent of all businesses in Europe state that they have not heard of GDPR. The report also indicates that every eight (12 %) large corporation, defined as companies with more than 250 employees,…
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Debt Purchaser, Arrow Global has announced its latest company results (for the three months ended 31 March 2018). Commenting on the results Lee Rochford, Group Chief Executive Officer, said “The power of our differentiated model has meant that we have had another strong start to the year. Our sophisticated approach to capital investment and asset management, underpinned…
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Debt purchaser, Cabot Credit Management has announced that it is to become a wholly-owned subsidiary of Encore Capital Group. The announcement was made as part of the companies latest financial results for the three months ending 31 st March 2018. Commenting on the results Ken Stannard, Chief Executive Officer, Cabot Credit Management, said: “Cabot Credit Management…
Read moreEuropean debt purchaser, DDM Holding has announced that it has appointed Henrik Wennerholm as Head of Business Development and a member of DDM’s Executive Management Committee. Wennerholm has industry experience from companies including Hoist, Aktiv Kapital (PRA Group) and, most recently, B2Holding ASA where he served as Head of Business Development and a member of the Group Executive…
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Debt purchaser has announced its latest company results. Main highlights include: Operating earnings, adjusted for non-recurring expenses and revaluations of portfolios of receivables improved to SEK 973 M. Compared to the first quarter (pro forma) of 2017 operating earnings increased by 10 percent. Portfolio investments for the quarter amounted to SEK 1,373 M. The carrying…
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American consumer credit reporting agency, TransUnion has announced it has reached an agreed to purchase Callcredit Information Group for £1 billion, ($1.4 billion). TransUnion, provides data, analytics and technology solutions to help businesses and consumers make informed decisions in America. International expansion is a key growth strategy for TransUnion which has offices in 33 countries. The company…
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The proliferation of new payment methods, e-wallets, and blockchain cryptocurrencies has allowed cheap and rapid payments for everything from holiday cash to business to business transfers. However, this boon is part and parcel of the new ‘trust economy’ and it is not risk-free. Businesses will have to intelligently respond to the increased hazards posed by…
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Intrum Justitia AB has confirmed that it has entered into a strategic partnership with Italian bank Intesa Sanpaolo creating a servicing agreement for non-performing loans (NPL) in Italy. The deal has been accepted by the board of Directors of Intesa Sanpaolo and will see a merger of Intesa Sanpaolo’s NPL recovery operations and all of Intrum’s current Italian…
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Last year saw a return to growth in the loan sales market, with a total of €114 billion of real estate backed loan sales recorded during the year, according to the latest report by the global real estate advisor, CBRE. Despite being a record year for loan transactions, there are still circa €1 trillion of…
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As part of the launch of the Financial Conduct Authority’s (FCA) business plan, the FCA has announced that it has increased its spending on Brexit to £30 million and will need to raid other budgets to cover the cost as the clock ticks down towards EU withdrawal. This year the FCA has taken £14 million from its…
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Danko Maras has been appointed as Intrum’s new Chief Finance Officer (CFO). Mikael Ericson, President and CEO of Intrum said “I am delighted to welcome Danko Maras to Intrum. We stand on the threshold exciting opportunities in the years ahead, and will continue to create value for both clients and owners, by continuing to develop…
Read moreEuropean debt purchaser DDM Holding has announced that it has entered into an agreement to acquire a sizeable distressed asset portfolio containing secured corporate receivables in the Balkans from a leading bank in the region. The gross collection value of the portfolio amounts to approximately EUR 240 million. About 90% of the portfolio value is…
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