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2022-05-31

Hoist Finance acquires NPL portfolio in UK

Hoist Finance has entered into an agreement to acquire a UK portfolio of non-performing loans, comprising of unsecured consumer loans. The total outstanding balance is approximately SEK 2.75 billion. The total investment is approximately SEK 1.0 billion.

"We are pleased to announce this acquisition of a major portfolio in the important UK market. The previously announced divestment of our existing UK unsecured portfolio and credit management operations releases capital that we now invest in portfolios with attractive returns. In accordance with our UK strategy, credit management of this particular portfolio will be carried out by a third party", says Lars Wollung, CEO.

The seller is a major purchaser of loan portfolios in the UK. The transaction is expected to close 8 June 2022.

For more information, please contact:
Ingrid Östhols, Head of Communications & Investor Relations
Telephone: +46 72 506 1423
E-mail: ir@hoistfinance.com

This information is information that Hoist Finance AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:30 CEST on 31 May 2022.

About Hoist Finance  
Hoist Finance is a trusted debt resolution partner to individuals, companies and banks in eleven European countries. With almost 1500 dedicated colleagues, smart digital solutions and a deep understanding of individual financial circumstances, we help over six million customers keep their commitments. This is achieved by agreeing on sustainable repayment plans so that everyone is included within the financial ecosystem. Hoist Finance has a diverse portfolio of asset classes and our online savings platform in Sweden and Germany enables our unique funding model. Hoist Finance was founded in 1994 and is today a public company listed on Nasdaq Stockholm. For more information, please visit hoistfinance.com. 

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