A Second Major Bank in Indonesia Has Sold More Than USD140M Non-Performing Loans to Improve Quality of Balance Sheet to Collectius
SINGAPORE & JAKARTA, Indonesia, May 17, 2019 (Newswire.com) - A second major bank in Indonesia has sold more than USD140M non-performing loans in the effort to improve the quality of their balance sheet to Collectius, a multinational credit management service and asset management company pioneering debt purchase in Indonesia.
The purchase by Collectius contains over 180,000 unsecured loans. The conversion of the non-core assets is believed to have a positive effect by a boost of capital buffers as the balance sheet is cleaned up.
This significant effort by the bank will reward its customers with positive results. The partnership is set to strengthen the bank’s business with ongoing communications and transparency.
“We will continue to contribute to Indonesia's economic growth by enabling more Indonesians a debt-free life and drive a positive cause for its people,” says Gustav A. Eriksson, CEO, Collectius Group.
Collectius is a trusted restructuring partner to banks and financial institutions in Asia with operations in Indonesia, Philippines, Singapore, Malaysia and Thailand. Its business is to purchase portfolios of non-performing consumer loans and recovers them by supporting its customers to become debt-free using the “Collectius way of collection.” The company is offering a customer-centric approach and operates a data-driven collection platform powered by machine learning and digital-first communication. Collectius is bringing foreign direct investment, providing employment opportunities and high-quality training of its staff. Collectius is funded by Stena, a Swedish shipping conglomerate and the largest ferry operator in the world.
Source: Collectius Group
Categories: Business Finance