0 £0.00
This item was added to your basket

Dear visitor,
You are viewing 1 of your 2 free articles


We’ve made wider, important changes to our print and online content to enhance the value of exclusive, insightful, discerning content we create every day. Support valuable editorial content by becoming a member of our Credit Club - register for free or choose a paid plan.

Register now or Login

Hoist acquires portfolio with outstanding balance of £86m

Debt purchaser Hoist Finance has entered into an agreement to acquire a French non-performing retail mortgage portfolio with a balance of around £86m.


Amber-Ainsley   Pritchard

Share on LinkedInShare on Twitter
Amber-Ainsley   Pritchard
Share on LinkedInShare on Twitter

The portfolio has around 1,000 claims and a total outstanding balance of about SEK1,000m (£86m).

 

Hoist is unable to disclose the seller, but said it is one of the largest mortgage banks in France and the portfolio acquisition represents an investment in excess of £44m.

 

Fabien Klecha, country manager of France at Hoist, said: “Ahead of this transaction we brought in new expertise and built capacity to be well prepared to acquire and manage secured assets.

 

“This agreement allows us to enter the secured market in France in a disciplined way, furthermore it also provides significant intangible benefits to our business in terms of a broader product offering and reliability as a partner to banks and financial institutions.”

 

In March this year, Klaus-Anders Nysteen took over the position of Hoist’s chief executive from Jörgen Olsson who remains as a board member of the company. Nysteen joins from Lindorff group where he also held the position of chief executive.

Share on LinkedInShare on Twitter
Add New Comment
LoginRegister

LATEST INDUSTRY NEWS STRAIGHT TO YOUR INBOX

READ NEXT

Rent-to-own cap could save consumers £276

Rent-to-own cap could save consumers £276

Credit Strategy launches webinar series with TransUnion

Credit Strategy launches webinar series with TransUnion

Brexit update: Mutual recognition dropped for financial services

Brexit update: Mutual recognition dropped for financial services

Upcoming events

Household Credit Conference


Utilities & Telecoms Awards



TRI Awards

Credit Strategy
LinkedIn page

Did you find our website useful?

Thank you for your input

Thank you for your feedback

creditstrategy.co.uk – an online news and information service for the UK’s commercial and consumer credit industry. creditstrategy.co.uk is published by Shard Financial Media Limited, registered in England & Wales as 5481132, Axe & Bottle Court, 70 Newcomen St, London, SE1 1YT. All rights reserved. Credit Strategy is committed to diversity in the workplace.
@ Copyright Shard Media Group