Collectius is Spearheading the First Secured Portfolio in the Philippines When Taking Over 40 Million USD Nonperforming Loan (NPLs) Portfolio With Cars as Collateral
MANILA, Philippines, October 24, 2018 (Newswire.com) - Collectius is spearheading the first secured portfolio in the Philippines when taking over 40 million USD non-performing loan (NPLs) portfolio with cars as collateral.
The deal that consists of both auto and personal loans is Collectius’ third bank portfolio of non-performing loan (NPLs) in the Philippines over the last twelve months. The deal further strengthens Collectius’ position as the preferred debt purchaser of consumer non-performing loans (NPLs) in Asia. This is in line with Collectius’ strategy to serve as the trusted partner to leading banks and financial institution in Asia in their handling of non-performing loans (NPLs).
"We are delighted to have our first Secured acquisition in the Philippines. This investment is in line with our strategy to expand our debt purchase business from unsecured for consumer receivables to adjacent asset classes, in countries where we have a strong market position and solid operations. Through acquiring secured debt portfolios, we also broaden our commitment to be a trusted partner for clients in the bank and finance industry. Importantly we have throughout this year proven to uphold our vision to help our customer to become debt-free," says Kian Foh, then Managing Director, Collectius Philippines.
Collectius is a trusted restructuring partner to banks and financial institutions in Asia; 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 Group: Collectius Group is a multinational credit management company with operations in Indonesia, Philippines, Singapore, Malaysia and Thailand with nearly two decades of experience in credit management and purchase of non-performing loan portfolios in Asia. Collectius is funded through by its largest financier Stena, a Swedish shipping conglomerate and the largest ferry operator in the world.
Source: Collectius Group