Singapore-based fintech company Collectius acquires $42 million worth of NPLs in Thailand

Singapore-based fintech company Collectius has acquired $42 million worth of non-performing loans (NPLs) in Thailand, bringing its total NPL acquisitions in the country to $581 million.

Key Takeaways

Collectius, a leading restructuring partner for financial institutions in Asia, has acquired an additional $42 million in non-performing loans in Thailand, bringing its total to $581 million, signaling its commitment to supporting Thailand’s financial ecosystem.
Rising interest rates have contributed to an increase in non-performing loans in Thailand, where household debt stands at 91% of the country’s gross domestic product.
Collectius continues to strengthen its position as the preferred partner for the sale of consumer non-performing loans in Southeast Asia, with a rapidly growing footprint and assets under management of $7.1 billion.

The deal includes credit cards and personal loans and reflects Collectius’ commitment to supporting Thailand’s financial ecosystem. The company aims to empower an additional 47,000 customers to become debt-free. Collectius partnered with the International Finance Corporation (IFC) in 2020 to launch a $60 million investment platform for acquiring and resolving debt in Southeast Asian countries.

Collectius has also recently acquired $2.5 million worth of NPLs from a digital bank in the Philippines. The company continues to reinforce its position as the preferred partner for the sale of consumer NPLs in Southeast Asia and has increased its assets under management to $7.1 billion. Collectius employs technology and digital strategies to build additional servicing capacity and plays a crucial role in stabilizing the financial system in Asia.