Collectius acquires non-performing loan portfolio in Philippines

Collectius Group from Sweden has announced that it acquires a 100 million USD non-performing loan (NPLs) portfolio in the Philippines. The transaction permits Collectius to support 170 000 debtors to become debt free.

The deal with a local bank further strengthens Collectius position as the preferred debt purchaser of consumer non-performing loans (NPLs) in the ASEAN region. This is in line with its strategy to serve as the trusted partner to leading banks and financial institution in the region in their handling of non-performing loans (NPLs). Collectius is a multinational credit management service and asset management company with operation in Philippine, Singapore, Malaysia and Thailand.

Collectius is bringing capital, employment opportunities, knowhow and systems in debt purchasing on consumer non-performing-loans (NPLs), using the collection approach of care, counselling and mediations to help its debtors to become a debt free. Collectius goal is to unburden their debtors and to integrate them into a lifestyle free from debt again.

“This bank deal is another major stepping stone for Collectius in the Philippines and our second bank deal in just a few months; we are really getting closer to our short-term target of 1 million customers! We are hungry to grow and the funds ready to support the growth,“ says Ivar Bjorklund Head of Portfolio Acquisition.

Photo: Alpha Stock Images – http://alphastockimages.com/

“We are delighted to have our second acquisition in Philippines it is a strong signal that the financial industry is confident with how Collectius have managed our acquisitions. We have also upheld our vision to help customer to become debt free,” says Kian Foh Then Managing Director Collectius Philippines.

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