Axactor Germany makes two NPL acquisitions from two large financial institutions
Oslo, 11 September 2017 - Axactor has acquired two portfolios of NPL Loans including auto financing and personal loans in Germany. The portfolios have an outstanding balance of EUR25.7m across over 4,000 cases, with both containing a significant number of existing payment plans, generating cashflow right from the acquisition.
The transactions complement the recent service contract announced last month, further strengthening the Axactor hybrid model focusing both on servicing and purchasing NPL claims across key European markets.
Doris Pleil, country manager and managing director Germany, commented "These purchases show further growth in the owned portfolios in Germany for Axactor. I am very happy with the development in Germany and expect to see further purchases soon."
For additional information, please contact:
Endre Rangnes, CEO Axactor
Mobile phone: +47 4822 1111
Geir Johansen, CFO & Investor Relations, Axactor
Mobile phone: +47 4771 0451
Axactor Group specializes in both Debt Collection and Debt Purchasing across several countries, with operations in Italy, Germany, Norway, Sweden and Spain. The company has a Nordic base and an ambitious Pan-European growth strategy, which targets the market for non-performing loans (NPL) in Europe. This market is estimated to be about 1,500 billion euros across Europe providing significant opportunities for Axactor's future expansion. Axactor has approximately 888 employees.