EBRD to become an anchor investor in AxFina’s asset & loan servicing company to support the financial sector in central and south-eastern Europe (CSEE)
- EBRD signs a commitment to invest in AxFina by subscribing to 24% of AxFina´s newly issued shares
- EBRD continues to promote the development of loan and asset servicing sector in CSEE
- New capital strengthens company’s competitiveness
- Closing subject to customary closing conditions
AxFina Holding S.A. (AxFina) is a CSEE focused asset & loan servicer, Business Process Outsourcing provider and Digital Banking & solutions platform. In bringing state-of-the-art servicing, rationalization and digitalization to its core markets, AxFina supports its financial services clients with efficiency, cost savings and expert support.
The European Bank for Reconstruction and Development (EBRD), with a strong track-record in successfully investing in asset servicers, is supporting the financial sector in CSEE by investing into Vienna-based AxFina. In making this investment, EBRD is seeking to support the CSEE financial markets and act as a catalyst to influence the broader economy in the CSEE.
Dealing professionally with non-core and non-performing assets in the banking industry remains a key challenge for banks especially in light of the expected increased volumes due to the COVID-19 pandemic. EBRD’s commitment to AxFina helps to bring best-in-class loan and asset servicing to banks to provide long-term work-out solutions to the financial sector while streamlining and digitalising debt collections in the region for greater consumer and regulatory transparency.
Melis Ekmen Tabojer, EBRD Director, Financial Institutions commented:
“The proposed investment is in line with our mandate to support the banking and servicing industry in our regions. We believe that asset and loan servicing is a critical tool for every banking market to allow its economy to prosper. With our investment we aim to contribute to the development of the loan and asset servicing sector in central and south eastern Europe, helping to safeguard what was achieved in recent decades and preparing the region for the post-pandemic period.”
Bernhard Engel, AxFina Holding CEO, said:
“We are delighted that EBRD will be investing in AxFina, recognising our highest standards, our systems and track-record in the region. The investment will make a significant contribution to leapfrog our development and in expand our footprint in CSEE.”
CMS acted as legal advisor to EBRD and Avonhurst as legal advisor to AxFina in this transaction.
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