Axactor acquires a large unsecured non-performing loan (NPL) portfolio from Bank Norwegian in Sweden.
Oslo, 31 March 2017 - Axactor has acquired the largest unsecured NPL portfolio since starting up in the fourth quarter of 2015. The portfolio is originated by Bank Norwegian in Sweden and includes unsecured credit with a total Outstanding Balance (OB) of approximately EUR 105 million, across close to 15,200 open accounts of individual loans and credit card debt. This portfolio acquisition will increase Axactor's ERC by more than 30%. The portfolio transaction is another primary market purchase, which will secure a significant increase in the existing cash collection, generated by