Intrum AB (IJU.SG)
- Reuters
Analysis-Europe's debt collectors face reckoning as bad loans vanish
Europe's debt collectors have gone from feast to famine amid a collapse in the number of bank loans turning sour. Companies that recover unpaid bank debts, and which thrived in the aftermath of the euro zone sovereign debt crisis, are rethinking their business models and examining tie-ups with rivals after COVID-19, an energy crisis and two-decade-high interest rates failed to unleash a new wave of loan defaults. Banks in Europe's south have largely completed the clean-ups that once fed the bad loan bonanza and pulled in overseas investment firms such as Apollo, Cerberus, PIMCO, Elliott and Lone Star, while government support measures have helped keep companies and households on their feet.
- Reuters
UPDATE 1-Intrum to sell large chunk of investment portfolio to Cerberus for $785 mln
Intrum said on Monday it would sell a large portion of its investment portfolio to affiliates of Cerberus Capital Management for 8.2 billion Swedish crowns ($785.41 million). Intrum said it would use the proceeds from the transaction to reduce its debt and will retain a 35% stake in the purchasing entity. The company also said it expects to book an accounting loss of 845 million Swedish crowns due to the transaction, aimed at helping Intrum meet its debt maturities up to 2025 without having to rely on the markets.
- PR Newswire
Intrum: Millions to lose sight of spending as monthly subscriptions and payment deferrals pile pressure on household finances
Millions of consumers across Europe are losing sight of their monthly spending and household outgoings, as almost half (45%) of consumers admit to being taken by surprise by how much their subscription fees build up without them realising. This is according to the 2023 European Consumer Payment Report from Intrum, the credit management services provider.As inflation outpaces wage growth, consumers find themselves with considerably less money in their pocket. Three in four (76%) admit to just bre
