AXACTOR EVEN MORE STRONGER IN ITALY: NUMBERS IN EXPONENTIAL GROWTH IN THE SERVICING BUSINESS LINE

Following what was previously communicated, Axactor SE, an International Group specialized both in the management of impaired loans on behalf of third parties and in the purchase of NPL portfolios, with operating platforms in Finland, Germany, Italy, Norway, Spain and Sweden, announces the closing of the purchase of the Italian credit management company C.R. Service - Credit Recovery Service S.r.l.

C.R. Service therefore represents, since the beginning of 2022, Axactor's operational structure in Italy dedicated to Servicing, providing a decisive contribution to the business line growth.
In fact, thanks to the numbers that the company brings to the Norwegian Group and to the results of a strong commercial activity conducted by the Axactor Italy team in 2021, all the main business indicators already show significant growth compared to the average values ​​of last year.

The number of active customers, which can count on the recent launch of strategic partnerships with some of the main Italian Banks, has almost doubled compared to 2021 (from 15 to 27), the managed cases per month are now over 45,000, against about 7,000 on average in 2021, and for 2022 it is possible to estimate over 500,000 managed cases on an annual basis, that is more than 5 times the total volumes of 2021. An exponential growth that leads the Servicing division towards an overall expected value of Asset Under Management, for 2022, equal to approximately 2.5 billion.

But it is not just the customers and managed practices in Axactor that are growing: with the new year, in fact, the number of employees in Italy goes from 120 to about 279. A significant growth, useful for enriching the skills and corporate culture. The sharing of experiences, know-how, technologies and human capital will be the guideline of the integration project of C.R. Service in the Axactor Group, with the primary objective of preserving and enhancing the excellences that are already recognized today to C.R. Service from the market.

Antonio Cataneo, CEO of Axactor Italy and now also of C.R. Service argues: "This strategic acquisition is certainly a further step forward for an already well-established company, such as Axactor, which further strengthens its offer on the market and is looking forward to continuing to invest in its growth".

Carmelo Chiofalo General Manager of C.R Service confirms: “I have decided to sell all the C.R. Service shares to Axactor, taking two steps back on a personal level but making one hundred steps ahead as a company, ensuring an important future for C.R. Service which has become part of a large Group ".