Acquisition and processing of non-performing loans in Croatia, Serbia, Bosnia and Herzegovina and Romania
Investment volume: EUR 129 million over three years
Strong consideration given to environmental, social and governance factors
The International Finance Corporation (IFC), a member of the World Bank Group and the world's largest development institution focused on the private sector in emerging markets, and the EOS Group are stepping up their cooperation in the field of non-performing loans (NPL). With Croatia, Serbia, Bosnia and Herzegovina and Romania, the focus is on Eastern European countries, which have particular investment needs in accordance with the IFC criteria. The cooperation forms part of a recently established joint investment vehicle; the investment volume from EOS and IFC will amount to EUR 129 million over three years. EOS and the IFC have already been cooperating in the purchase and processing of NPLs in other markets since 2010.
“With this cooperation, we are strengthening our business in Eastern Europe and intensifying our activities as a sustainable investor on the NPL market,” emphasizes Carsten Tidow, Member of the EOS Group's Board of Directors responsible for Eastern Europe. “Of particular note is the consideration of environmental, social and governance factors in the selection and processing of NPLs. As a member of the Otto Group, we have placed sustainable economic activity at the heart of our work for a long time.” Within the project, goals such as the prevention of environmental damage in our work with property, ensuring the fair and socially responsible treatment of borrowers and the protection of cultural goods, for example, are just as important as the operational and financial goals.
EOS has been active in the NPL market in Croatia, Bosnia and Herzegovina and Romania for more than ten years. Together with the IFC, the company invests, as part of the cooperation, in mortgage-backed, non-performing loans to SMEs and individuals, and takes over the asset management of NPLs and mortgages.
The banks or investors receive liquidity through the sale of NPLs and real estate in order to finance new loans or projects. At the same time, the cooperation between EOS and IFC makes it easier to normalize the liabilities of defaulting consumers. Playing a significant role in supporting and promoting the economy in the target countries of the cooperation is therefore a key aim of the cooperation.
About IFC
IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2022, IFC committed a record $32.8 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises.
The EOS Group is a leading technology-driven investor and service provider in the receivables management industry. With over 45 years of experience, EOS offers some 20,000 customers in 25 countries (as of: fiscal year 2022/23) around the world smart services for all their receivables management needs. Its key target sectors are banking, real estate, telecommunications, utilities and e-commerce. EOS employs more than 6,000 people and is part of the Otto Group.
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