Project Primo

Location:

Russia

Project number:

45671

Business sector:

Non-depository Credit (non bank)

Notice type:

Private

Environmental category:

FI

Status:

Cancelled

PSD disclosed:

08 Oct 2013

Translated version of this PSD: Russian

Project Description

The EBRD is considering providing a senior loan to First Collection Bureau (“the Company”, “FCB”), a leading debt collection agency in Russia, which has a network of recovery operations across the Russian Federation.

The EBRD financing will be used to further expand the Company’s business of acquiring non-performing loans and receivables (“NPLs”), mostly in the unsecured retail sector, from originating financial institutions in Russia.

Transition Impact

EBRD’s loan will support the expansion of the NPL market in Russia and strengthen the NPL management and collections industry, which are still at a relatively early stage of development. By supporting a leading NPL management company, the EBRD will help increase the industry capacity to acquire NPL portfolios from banks, ultimately enabling Russian banks to restructure their balance sheets and refocus on the core product of bank lending.

The Client

Established in 2005 in the Far East, FCB has the largest regional footprint and is a leading debt management company in Russia with a 27% market share in the purchased debt market.

The Company has an integrated and comprehensive collection operation, which encompasses remote collection (i.e. call centres) and field and legal collection functions. FCB has been an active member of the National Association of Professional Collection Agencies (NAPCA, Russia) since 2009.

EBRD Finance

Up to RUB 860 million in 5 -year senior loan.

Project Cost

Up to RUB 860 million.

Environmental Impact

Categorised FI. First Collection Bureau (FCB) will be required to comply with the EBRD's Performance Requirements 2 and 9 and submit annual environmental and social reports to the EBRD.

Technical Cooperation

None.

Company Contact

Mr. Pavel Mihmel
CEO

First Collection Agency
Promishlennaya St. 20B
Khabarovsk, Russia

Tel.: +7(4214)45-29-94
E-mail: mikhmel@collector.ru

 

Business opportunities

For business opportunities or procurement, contact the client company.

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