Arrow Global acquires €1 billion of loans via three Portuguese portfolio purchases

Manchester’s Arrow Global Group PLC, a provider of debt purchase and receivables management solutions, announces that it has acquired three portfolios from Portuguese clients with a face value of circa €1 billion for €78 million.

These three portfolio purchases represent a significant expansion of Arrow Global’s Portuguese business which now has a total face value of more than €2 billion (£1.6 billion).

This increased scale and franchise footprint represents a material step forward for Arrow Global’s European business.

The latest deals have come from both international and domestic Portuguese banks and have come from both existing and new Arrow Global clients. The purchases are further evidence of an increasing propensity to sell by European banks.

Tom Drury, chief executive officer of Arrow Global commented: “We are delighted to announce these strategically important purchases, which strengthen our leading position in Portugal and reinforce our European growth strategy.

“Importantly, they demonstrate the strength of our brand in European markets, something which is key to our continued growth.

“Although two of these portfolio purchases were initially expected in Q3, we have been able to complete them in Q2 and at a larger size. As a result, we now expect our full year purchases to be ahead of our previous expectations, laying a strong foundation for earnings growth in future years.”