Hoist Finance acquires SME portfolio from Banco Popolare in Italy
The portfolio consists of approximately 9000 claims with a nominal value of approximately 600 million euros. The 10-year Estimated Remaining Collections is 53 million euros.
Charly De Munter, Regional Director Mid Europe, Hoist Finance, describes the acquisition as an additional milestone in Hoist Finance strategic expansion in unsecured non-performing claims from small-and-medium sized enterprises (“SMEs”).
“We are delighted to further strengthen the partnership with one of the largest Italian banks. As part of our strategy to be a leading debt-restructuring partner to large international banks, we continue to build our competence and capabilities outside of the consumer segment. Following our SME portfolio acquisitions in Italy last year we have substantially expanded our knowledge with these types of assets” says Charly De Munter
For further information please contact:
Michel Jonson, Group Head of Investor Relations
Telefon: +46 (0)8 555 177 17
About Hoist Finance
Hoist Finance is a leading debt restructuring partner to international banks and financial institutions, offering a broad spectrum of advanced solutions for acquisition and management of non-performing unsecured consumer loans. Hoist Finance operates through eleven in-house collection centers across Europe, complemented by local external debt servicing partners. The total carrying value of Hoist Finance’s acquired loans was approximately SEK 11.3 billion as per 31 December 2015. The parent company Hoist Finance AB (publ) is listed on Nasdaq Stockholm Mid-Cap list and its subsidiary Hoist Kredit AB (publ) is a regulated “Credit Market Company” under the supervision of the Swedish Financial Supervisory Authority (Sw. Finansinspektionen). In Sweden, the company offers internet-based savings deposit services through HoistSpar, with around 85,000 accounts.