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Record deal: DCA, the biggest debt collection company in Bulgaria, has signed an agreement to acquire a NPL portfolio valued at close to EUR 250 million from UniCredit Bulbank

Debt Collection Agency EAD (DCA), the leading debt purchaser in Bulgaria, part of Norway-based B2Holding ASA, has signed an agreement to acquire a portfolio with a face value of around EUR 250 million (BGN 500 million) from UniCredit Bulbank, the largest Bulgarian bank by assets. The deal is expected to be closed in October 2018.

The purchased portfolio is the largest one ever purchased from a bank in Bulgaria and is composed of secured and unsecured non-performing loans granted to private individuals, SMEs and corporate customers.

“This transaction further strengthens our position as a leading debt purchaser in Bulgaria and reinforces B2Holding’s presence as one of the leading players in the SEE NPL market. The deal also demonstrates that B2Holding has the experience, expertise, and skills to acquire and manage NPLs across its target regions. We appreciate the expertise and resource that UniCredit Bulbank has dedicated to this complex transaction. The efficiency with which we were able to undertake due diligence, negotiate and agree on this transaction is not only a reflection of the quality of the underlying assets, but also of the depth and experience of UniCredit Bulbank’s management team”, says Martin Despov, CEO of DCA.

This has been the third deal between DCA and UniCredit Bulbank in Bulgaria for the last two years. In January 2017, DCA acquired from the bank a portfolio of non-performing loans of corporate clients with a nominal value of EUR 93 million. Later the same year, DCA  purchased from the bank another NPL portfolio with a face value of approx. EUR 84 million. All the deals have been part of UniCredit Group’s strategy to sell non-core assets.

Debt Collection Agency EAD is the largest debt purchaser in Bulgaria by assets and among the most active players in the sector in both Bulgaria and Romania. In 2017 DCA’s assets grew three times to over BGN 62 million. The company increased its revenues by 18% on an annual basis to BGN 22.3 million. Since its start at the end of 2010, DCA has acquired more than 500 000 debts on the Bulgarian market managing portfolio with  face value of over BGN 800 million before closing of the transaction mentioned above.