Oslo, Norway — Aktiv Kapital reports second quarter 2010 operating profit of $16.7 million, compared with $17.1 million in the same quarter last year. Portfolio collection was $59.8 million, compared with $73.5 million in the second quarter of 2009. The decrease is mainly related to minor portfolio acquisitions.
"The numerous operational improvements we have made during the last 18 months are having a positive effect on the results. We are reporting an operating profit in line with the same quarter last year," says Erik Oyno, President and CEO of Aktiv Kapital. However, portfolio collection is affected by the lack of significant portfolio acquisitions over a period of time. Even though there has been a substantial increase in non-performing loans throughout Europe, financial institutions are reluctant to offer portfolios for sale. Today, Aktiv Kapital has an efficient organization well positioned to take advantage of the opportunities we see coming. We have a pipeline of more than 40 portfolios with a face value of more than $731.5 million expected to be sold during 2010 or early next year."
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