Resurs confirms its strength by selling non-performing loans to a leading international investor
Resurs Bank, a wholly owned subsidiary of Resurs Holding, has entered into an agreement with a leading international investor in non-performing loans to sell parts of Resurs Bank’s non-performing loans for a gross carrying amount of just over SEK 500 million. The sale will have a positive impact on Resurs Bank’s capital requirements and liquidity and a neutral effect on earnings.
The sale is expected to be completed at the end of the fourth quarter of 2020 and is in line with the strategy for the management of non-performing loans that Resurs Bank has followed since the autumn of 2018. The strategy aims to continuously sell non-performing loans (forward flow) while selling parts of existing NPL portfolios given the right conditions.
“It is a confirmation of our strength that, given the current market situation, we are able to carry out this type of transaction with a leading international investor in non-performing loans. This demonstrates that our underlying assets are of high quality and that we enjoy a high level of market confidence,” says Stefan Noderen, Chief Credit & NPL Officer of Resurs Bank.
More information:
Stefan Noderen, Chief Credit & NPL Officer, stefan.noderen@resurs.se, +46 70 816 02 24
Sofie Tarring Lindell, IR Officer, sofie.tarringlindell@resurs.se +46 73 644 33 95
About Resurs:
Resurs Holding (Resurs), which operates through the subsidiaries Resurs Bank and Solid Försäkring, is the leader in retail finance in the Nordic region, offering payment solutions, consumer loans and niche insurance products. Since its start in 1977, Resurs Bank has established itself as a leading partner for sales-driven payment and loyalty solutions in retail and e-commerce, and Resurs has thus built a customer base of approximately 6.0 million private customers in the Nordics. Resurs Bank has had a banking licence since 2001 and is under the supervision of the Swedish Financial Supervisory Authority. The Resurs Group operates in Sweden, Denmark, Norway and Finland. At the end of the third quarter of 2020, the Group had 723 employees and a loan portfolio of SEK 31.2 billion. Resurs is listed on Nasdaq Stockholm.