TMB Bank Public Company Limited Sells Over 250M Thai Baht of Non-Performing Loans (NPLs) to Collectius
BANGKOK, February 19, 2019 (Newswire.com) - TMB Bank sold over 250M Thai Baht of non-performing loans (NPLs) to Collectius, which provides multinational credit management and asset management services. The asset sale is in line with TMB’s strategic direction in enhancing asset quality and strengthening the balance sheet of the bank.
The deal that consists of both credit card and personal loans is Collectius' third portfolio of non-performing loan (NPLs) in Thailand over the last 12 months, comprising over 1,700 loans with a total principal value of more than 250M Thai Baht. The deal will further strengthen Collectius' position as the preferred debt purchaser of consumer non-performing loans (NPLs) in Asia. This will be in line with Collectius' strategy to serve as the trusted partner to leading banks and financial institutions in Asia in their handling of non-performing loans (NPLs).
“The transaction is consistent with the bank’s goal to further enhance our asset quality and give us a stronger position to focus our efforts on creating value for our customers,” says Ms. Chirdprapa Chaladsoontornvatee, TMB head of credit restructuring.
“We are very pleased to add another important investment to Thailand’s activities and to be the trusted partner of TMB Bank. Importantly, we have throughout this year proven to uphold our vision to help our customers to become debt free. This deal will further strengthen our market position in Thailand and this year, we are looking into our business expansion in other areas such as SME and secured portfolios,” says Pimmada Jiaranaipreeda managing director, Collectius Thailand.
TMB is a Thailand-based commercial bank which aims to provide customers with the “need-based” and “simple & easy” transactional banking products and services to empower customers to get more from banking and effectively achieve their goals.
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