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2016-04-05

Hoist Finance: Hoist Finance in strategic partnership with Bank of Greece

Today, Hoist Finance announces a strategic partnership that underpins
the attractiveness of the Group's offering towards international
banks, at the same time the agreement results in a new market entry.
This is well in line with Hoist Finance's established and prudent
expansion strategy to become the preferred debt restructuring partner
to international banks.

Hoist Finance has entered into a strategic partnership as part of a
consortium, consisting of Hoist Finance, Qualco S.A. and
PricewaterhouseCoopers Business Solutions S.A. The consortium has
been selected via a tender process initiated by the Bank of Greece to
manage the aggregated NPL portfolio of 16 Greek banks under
liquidation and to drive the reorganisation and optimisation of the
underlying entities.

Total assets of the NPL portfolio amount to approximately EUR 9bn and
cover all major asset classes. The agreement consists of end to end
portfolio management solutions and full scale operational
rationalization of the 16 resolved banks* aiming at optimizing
proceeds. The transaction will not entail any material financial
effects in the near future but could open significant opportunities
over time for Hoist Finance.

- Entering into the Greek NPL market has been a high priority for our
company and the selection by the Bank of Greece represents a true
testament to our commitment to establish Hoist Finance as the
preferred debt restructuring partner for International Banks and
Financial Institutions. We are looking forward to working closely
with our partners in Greece, building on our international experience
and NPL expertise, to deliver a best-in-class offering to the Bank of
Greece, says Hoist Finance CEO, Jörgen Olsson.

The appointment represents a key strategic initiative for the Bank of
Greece and a major step towards an effective restructuring of the
Greek banking sector. The comprehensiveness of the offering and
complementary nature of the three partners were cited as determining
factors for the success of the proposal.

* The 16 resolved banks consist of i) Agricultural Bank of Greece S.A.
under special liquidation, ii) Hellenic Postbank S.A. under special
liquidation, iii) Proton Bank S.A. under special liquidation iv)
Probank S.A. under special liquidation, v) FBB - First Business Bank
S.A. under special liquidation, vi) Panellinia BankS.A. under special
liquidation, vii) Achaiki Cooperative Bank Ltd. under special
liquidation, viii) Cooperative Bank of Lamia Ltd. under special
liquidation, ix) Cooperative Bank of Lesvos-Limnos Ltd. under special
liquidation, x) Cooperative Bank of Dodecanese Ltd. under special
liquidation, xi) Cooperative Bank of Evia Ltd. under special
liquidation, xii) Cooperative Bank of Western Macedonia Ltd. under
special liquidation, xiii) Cooperative Bank of Peloponnese Ltd. under
special liquidation, xiv) T-Bank S.A. under special liquidation, xv)
Bank of Crete S.A. under liquidation (L.2330/1995), xvi) ATE LEASING
S.A. under special liquidation

For further information please contact:

Jörgen Olsson, CEO
Telephone: +46 (0)8 555 177 90

Michel Jonson, Group Head of Investor Relations
Telephone: +46 (0)8 555 177 19

About Hoist Finance

Hoist Finance is a leading debt restructuring partner to international
banks and financial institutions, offering a broad spectrum of
advanced solutions for acquisition and management of non-performing
unsecured consumer loans. Hoist Finance operates through eleven
in-house collection centers across Europe, complemented by local
external debt servicing partners. The total carrying value of Hoist
Finance's acquired loans was approximately SEK 11.3 billion as per 31
December 2015. The parent company Hoist Finance AB (publ) is listed
on Nasdaq Stockholm Mid-Cap list and its subsidiary Hoist Kredit AB
(publ) is a regulated "Credit Market Company" under the supervision
of the Swedish Financial Supervisory Authority (Sw.
Finansinspektionen). In Sweden, the company offers internet-based
savings deposit services through HoistSpar, with around 85,000 active
accounts.

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http://news.cision.com/hoist-finance/r/hoist-finance-in-strategic-partne...

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