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09 October 2019

Axactor Italy

Axactor Italy sales NPL credits to Sorec

Axactor Italy, part of the International Axactor Group, a leading player in the Italian credit purchase and collection market with over twenty years of experience in the sector, announces that it has concluded a sale of non-performing loans for almost 14,000 positions , with the company SOREC Srl

This transaction involved receivables for approximately 84.5 million euros. Of these, approximately 78% of the GBV (gross book value) refers to SMEs, while the remaining 22% to individuals.

From a geographical point of view, the portfolio sold by Axactor to Sorec is located for the most part in Northern Italy and over 12% in Central Italy.

This operation, the result of a consolidated partnership between Sorec and Axactor, is part of Axactor Italy's broader growth plan which aims to focus primarily on the purchase and management of portfolios of loans from the primary market, in line with the Group's focus. .

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Antonio Cataneo

CEO Axactor Italy

antonio.cataneo@axactor.com