Intrum takes full control of Earth portfolio
Intrum took full control of Earth portfolio following the purchase of Carval's stake in the portfolio.
Intrum Group holds the sole control of the portfolio with non-performing and unsecured receivables from retail and small business loans, codenamed "Earth", as it has just acquired CarVal Investor's stake (60%).
The portfolio had been transferred in 2018 to CarVal (60%) and Intrum (40%) as they bid in the relevant tender of Ethniki with a price amounting to 6% of the outstanding capital (approximately 110 million euros).
The portfolio included in 2018, when the transaction was completed, 304 thousand non-performing consumer loans (1.1 billion) as well as card receivables (0.5 billion) and loans to micro-enterprises, about 200 thousand borrowers, the which have no collateral.