Komplett Bank has entered into a forward flow agreement with Axactor for the sale of non-performing consumer loans in Norway. The agreement has a duration of 12 months.
According to the agreement, Axactor will service the loans for the initial 180 days after they are sent to collection and thereafter acquire 80% of the remaining balance. 20% of the remaining balance will be retained by Komplett Bank to ensure sufficient data for maintenance and development of risk models.
The forward flow agreement will not have material impact on Komplett Bank’s loan loss provisions.
For further information, please contact:
Henning Fagerbakke, CFO
+47 95 46 37 20