Prague, 8th June 2016 – APS Holding a.s. is getting stronger after adding to its administration the second largest loan portfolio sold in the Czech Republic during the past 18 months. The total value of the receivables in the portfolio exceeds the equivalent of EUR 23 million. The seller is a major international financial institution.
The portfolio was acquired by a subsidiary of Swiss company DDM Holding AG (DDM) and it is formed of tens of thousands of unsecured consumer loans.
“Since our entry to the Czech market, we have focused on investment transactions involving retail unsecured non-performing loans. This significant acquisition will strengthen our position within the Central European market,” states Gustav Hultgren, CEO of DDM.
“I greatly appreciate the fact that the DDM has once again chosen APS as the partner for the management of the portfolio. This substantial transaction will strengthen APS's role within the Czech Republic as a major administrator and servicer of non-performing loans,” states Martin Hubáček, Country Manager at APS.
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APS is a leading company in investment, management, and recovery of loan portfolios and real estate within Central and South-eastern Europe. The company was founded in 2004 in Prague, Czech Republic the location of its headquarters. APS provides comprehensive services in loan advisory, loan management, investment, and asset management. Through its more than 480 experts, it provides services in ten European countries: Bulgaria, Montenegro, the Czech Republic, Cyprus, Croatia, Poland, Romania, Greece, Slovakia, and Serbia. APS manages assets totalling more than EUR 4.5 billion and offers investment advisory in four investments vehicles.
DDM Holding AG (Nasdaq First North Stockholm: DDM) is a key acquirer and manager of distressed assets. Since 2007, the DDM Group has built a successful platform in Eastern Europe, and as of 31 December 2015, DDM managed 2.3 million receivables with a nominal value of over EUR 2 billion. DDM is actively seeking new market opportunities in Central and Eastern Europe.