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Intrum acquires Aegon Hitel, including NPLs

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Debt collection company Intrum has announced the acquisition of  loan provider Aegon Hitel Zrt., a former subsidiary of insurer Aegon Hungary, taking over its portfolio of non-performing loans (NPLs) and renaming the acquired business Intrum Hitel Zrt., according to a press release sent to the Budapest Business Journal.

The local unit of Swedish company Intrum Justitia says its clients will have no extra duties, with Intrum Hitel Zrt. informing clients about all relevant changes by mail. The firm says it will investigate the situation of each client, vowing to work out solutions to ease the financial burden on cooperative ones.

"Acquiring Aegon Hitel Zrt. is a milestone in both Intrumʼs and the clientsʼ lives," said Péter Felfalusi, Intrumʼs CEO. "As Europeʼs leading claim settling company, we work with our clients every day to find the best solution to handle their situations. Weʼre not looking for blanket solutions; we offer a customized solution for each client," he noted.

Aegon Hitelʼs entire mortgage loan portfolio was worth almost HUF 75 billion, KPMG, a consultant for the transaction, said earlier, according to state news agency MTI. Aegon Hitel stopped signing new mortgage contracts in spring 2014. The rest of Aegon Hitelʼs mortgage loan portfolio was sold to Raiffeisen Bank, noted MTI.

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