European debt buyer and collection firm Aktiv Kapital announced Wednesday that it had purchased a large portfolio of non-performing consumer loans originated in the United Kingdom.

The Oslo, Norway-based ARM firm said that the portfolio has a face value of £470 million ($750 million) and is comprised of around 90,000 accounts. Noting that the debt originated at a “leading global financial Institution,” Aktiv said that the portfolio accounted for $20.7 million in gross collections over the past 12 months, indicating that the portfolio was probably secondary.

Indeed, UK banking publication Credit Today reported that the portfolio was a secondary purchase of MBNA unsecured consumer loans.

“This acquisition demonstrates our financial strength and ability to make significant investments when we see value in the distressed debt market,” said Geir Olsen, Aktiv CEO.  “Our customer-centric approach is valued by financial institutions.”

 

EOS Group Starts New Debt Collection Business in Albania

Global ARM firm EOS Group said Thursday that it is opening a new debt collection operation in Albania. The unit, EOS Albania Ltd., starts operations March 1.

“EOS is entering this young market to provide professional receivables management services to its international clients,” said Christos Savvides, Member of the Board of Directors of the EOS Group with responsibility for Eastern Europe. “Banking sector clients of our Bulgarian EOS company, in particular, increasingly asked for an external partner to support them with the collection of outstanding receivables in Albania.”

Dobrin Mirevski

The newly founded EOS company is headed by Dobrin Mirevski. He has been working for EOS Matrix Bulgaria since 2008 as a Business Development Director and was involved in the foundation of the Albanian enterprise from the very beginning.

Mirevski describes the starting situation for EOS as follows: “We find a lot of similarities with the other Balkan markets. We, therefore, profit from the close collaboration with EOS Group companies in neighbouring countries. Our clients will additionally benefit from the long-term experience EOS has in the receivables management sector as well as from our regional expertise.”

Based in Germany, EOS Group focuses on receivables management and debt collection and employs 8,500 people at 49 subsidiaries in 27 countries.


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