Collectius recorded an 18% increase in revenue throughout the year, and expects to increase loan sales in 2023.

SINGAPORE, Jan. 20, 2023 /PRNewswire/ — Collectius, the leader in credit rating for domestic financial institutions Asiarecorded an 18 percent increase in total revenue throughout the year US$41.4 million although purchases of non-performing non-performing loans (NPLs) from banks in the region decreased last year. Since the start of operations in 2016, the company has registered a compound annual growth rate (CAGR) of 40 percent.


Despite market fears of a NPL wave in 2022 due to the pandemic, a scenario that was avoided thanks to the many debt relief programs established by governments in the region.

However, the economic challenge in 2022 saw an increase in the demand for debt restructuring, especially in small and medium enterprises (SMEs).

Collectius has increased its number of customers to 100 by 2022, which includes the integration of banks and financial institutions. Its sales also increased 26% to 6.3 million copies in seven markets (Singapore, Indonesia, Philippines, Malaysia, Thailand, Indiaand Vietnam).

Collectius’ total assets under management increased by 42% i US$7.1 billion in 2022, this US$4.8 billion the loans that the company bought and the rest are paying off debts on behalf of its customers.

NPL forecast

Looking ahead to 2023, Collectius expects NPL sales to accelerate amid signs of deteriorating asset quality in the banking sector. The risk of bad debt also increases as interest rates continue to rise.

“Many of the loan moratorium programs introduced by the authorities in the region during the height of the epidemic have been suspended in recent months, and the banks have begun to have a clear picture of their assets. ‘impact of bad credit, the interest rate environment increases the burden on borrowers and can lead to higher default rates’ forward,” he said. Gustav A. ErikssonCEO at Collectius.

Awards last year

Despite the weak market conditions for NPLs in the last year, Collectius has still recorded important milestones including obtaining its first record deal when it bought non-performing loans from a bank in world. Malaysia after approval from Bank Negara Malaysia.

Last year, Collectius also completed the largest single acquisition in its history when it purchased US$800 million value of NPLs from a Vietnam-based commercial banking, while also ensuring NPLs from a super app inside Southeast Asia in a transaction seen in five markets.

Other important events in 2022 include the opening of internal offices India and Vietnamwhile also reaching a landmark agreement to service the entire back-end collection process for a new digital bank in the region.

Strengthen his leadership team

In line with its rapid expansion, Collectius has improved its leadership structure with the appointment of Kian Foh Then as Co-CEO. This new role seeks to increase growth while optimizing operations across all of Collectius’ markets. Kian, who was previously Deputy CEO, will continue to be based at Singapore.

To further strengthen its information-first business plan and open opportunities to improve the customer experience, Collectius has been appointed Qi Fang Sun as Chief Information and Risk Officer. Will stay inside Singapore and begin 1 February 2023.

Last month, Collectius was appointed Dean Young to be the Chief Operations Officer based out of Singapore. Dean brings with him almost 20 years of experience in the debt settlement and restructuring business he has worked on. Southeast Asia, Australia and the US.

Computerized credit management has become more secure

Collectius seeks to modernize the traditional credit management business by providing a seamless digital customer experience in a secure environment, while Humanity is the process of debt recovery. It recently implemented a “Voice of the Customer” program that aims to collect customer feedback across channels to improve the customer experience at an accelerated process.

Looking ahead to 2023, Collectius hopes to make personal digital debt settlement a reality. Southeast Asia as digital currencies continue to grow in such markets Indonesia, Thailand and the Philippines.

About Collectius

Founded in 2014, Collectius is of Asia leading fintech company in credit management services and operations c Singapore, Indonesia, Philippines, Malaysia, Thailand, Vietnam and India which has a growing customer base of over six million. The credit company serves consumer and non-performing SMEs. US$7 billionwhether purchased by Collectius or owned by independent parties.

In a market with approximately 100 million people affected by bad debt management practices, Collectius is the market leader and, in partnership with the International Finance Corporation (IFC), creates best practices. for the industry to follow. The ‘Collectius way of Collection’ uses the customer’s approach to debt management supported by a database that collects data and processes it through in machine learning and digital first communication. The Collectius plays an important role in ensuring the stability of the internal financial system Asia by giving banks and financial institutions the opportunity to get rid of their non-performing loans, strengthening their balance sheets and allowing them to continue issuing loans to facilitate economic growth .

The company is managed by its two founders Gustav A. Eriksson and Ivar Björklund, with the remainder owned by IFC, Stena AB and Formica Capital.

SOURCE Collectius

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