In preparation to boost more liquidity and cleanse their balance sheet, a reputable international bank in the Philippines has sold more than USD500M non-performing loans to Collectius, a multinational credit management service and asset management company pioneering debt purchase in the Philippines.
With the purchase of over 250,000 credit card NPLs by Collectius, the bank is positive on obtaining better spread, margin and credit quality. With this move, the bank is well positioned to enhance its growth. This meaningful step should support higher earnings and returns in the coming years.
“Collectius has once again successfully closed a transaction to purchase written-off credit card receivables from a major foreign financial institution in the Philippines. It passed the rigorous due diligence of the financial institution, demonstrating Collectius’ commitment to adhere to high standards of debt-servicing and collections,” says Jade Roxas, PWS Philippines.
“We are excited to prove again that we are here to provide fresh capital and financial stability for banks and financial institutions in the Philippines and at the same time, improving the lives of hundreds of thousands of customers and their families by supporting our customers to become debt-free,” says Gustav A. Eriksson, CEO, Collectius Group.