Strong footprint in Europe
Hoist Finance purchases and manages non-performing loans in 10 countries across Europe. Many of these markets have different traditions for providing financial services, different legislative frameworks and different attitudes with respect to past due receivables and repayment patterns. Hoist Finance’s local expertise and presence, enables a positive dialog with customers on their terms.
Belgium & the Netherlands: The market for NPLs is developing in the region, but at a slower pace than e.g. in southern Europe. Larger banks tend to manage their debt recovery in-house and, therefore, divestments of NPL portfolios is not as common. However, there are some signs of change.
France: The French operations combine an in-house collection platform with a network of reliable and carefully selected third party suppliers. The French market is still less mature compared with the rest of Europe and considerable growth potential remains. Hoist Finance has two platforms in France, in Lille and Bayonne.
Germany & Austria: Hoist Finance was established in Germany in 1997. Partnerships are now in place with over 100 banks. Hoist Finance’s assessment is that, in time, the German market will take on the characteristics of the UK market, with a faster sales pace and a greater share of fresher NPLs being sold. Forward flow contracts make up more than half of the market. The debt purchasing market in Austria is relatively small with a limited number of purchasers. Although the market is diversified, the major banks have a relatively large market share and are concentrated in Vienna. The Austrian operations have been administered from Germany since 1997
Greece: In Greece, Hoist Finance has entered into a strategic partnership with the Bank of Greece, that covers the management and administration of 16 Greek banks in liquidation. Hoist Finance works with two partners to assist the Bank of Greece in recovering non-performing loans.
Italy: Hoist Finance holds a strong position in the Italian market after a successful diversification of its asset portfolio into acquisition of loans to small- and medium-sized enterprises (SMEs) and the addition of secured loans. The considerable scope of this market is intrinsically linked to the plethora of small businesses in Italy. Hoist Finance has two call centres in Italy, in Rome and in Lecce.
Poland: The Polish market is continuing to develop into an increasingly mature market. The market has grown and will be about as large as the German market, when measured by the transaction volumes of NPLs. Hoist Finance is one of the largest debt purchasers in the Polish market and has been established in Poland since 2011.
Spain: Hoist Finance entered the Spanish market through the acquisition of Optimus in August 2016 and the operations has grown significantly. Apart from the integration of Optimus and implementing the Group infrastructure into the Spanish operations, the local team has also developed in-house litigation capabilities.
UK: Hoist Finance is one of the largest players in debt collection in the UK where it has two collection centres, the main centre in Manchester and a centre in Milton Keynes. Hoist Finance was approved by the Financial Conduct Authority (FCA) in 2016 following an extensive process that confirmed the company’s operational transparency and position as a leading force in the industry.