Philippines: Credit management firm Collectius acquires bank's $350m NPL portfolio

Multinational credit management service and asset management company Collectius Group has completed its acquisition of a Non-Performing Loan (NPL) portfolio from a leading bank in the Philippines valued at $350 million.

The deal consists of 340,000 credit cards and personal loans, with Collectius terming it as a breakthrough deal in the Southeast Asia (SEA) debt buying markets.

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