First-Time Transaction On Purchase Of NPL Portfolio Has Been Concluded In The Republic Of Kazakhstan By An Independent Collection Company

Top Quote CCG-Credit Collection Group as a leading collection company represented in four CIS countries has successfully concluded a transaction on purchase of NPL portfolio from one of large banks located in Kazakhstan. This deal is the first one conducted in the history of Kazakhstan by an independent collection company. End Quote
  • (1888PressRelease) March 02, 2011 - CCG-Credit Collection Group being an international group of collection companies has successfully concluded the first in the history of the Republic of Kazakhstan transaction on purchase of NPL portfolio. It is important that a Buyer is not affinated with any of financial institutions of the Republic of Kazakhstan and is to be considered as an absolutely independent company in relation to a Seller.

    The NPL portfolio consists of consumer credits of physical persons and it has been earlier served by Collection Company on the basis of an Agent Agreement. Seller of the NPL portfolio is one of large commercial banks of the Republic of Kazakhstan which carefully selected a Buyer. Within a selection process the ability of a Buyer to build a civilized collection process at pre-legal and legal stages has been evaluated. Serious attention has been paid to the Company's operational background and market reputation, as well as to its operating capacity and experience of managing risks.

    The market of the Republic of Kazakhstan is open for NPL portfolio transactions. Banks are up and ready to get rid of NPL portfolios and more closely co-operate with collection companies. In 2011 CCG-Credit Collection Group plans to conduct additional number of NPL transactions in the Republic of Kazakhstan. As a result, the Company will totally manage NPL portfolio having a volume of no less than USD 80 million.

    On the whole, CCG-Credit Collection Group plans to increase the total NPL portfolio volume of the whole group of companies located in 4th countries (Ukraine, Russia, Byelorussia, Kazakhstan) up to more than USD 1 billion.

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