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Debitos now offers its bad debt and receivables exchange in English
Frankfurt am Main (ots) - International investors act as an important catalyst on the European market for non-performing loans. To serve their needs even better, Debitos' online-exchange for distressed assets is now available in English.
Increased regulatory pressure and the recent asset quality review result in more non-performing loan (NPL) sales by European banks despite the historically low interest rates. In its report "European Real Estate Loan Sales Market", Cushman & Wakefield mentions a total volume for closed transactions of 54.9 billion Euros for the year to date. While German banks primarily reduce their credit book outside of their home market, international financial institutions also trade bad debt within Germany. At the same time, more and more Anglo-Saxon investors enter the German market for non-performing loans.
English website addresses the needs of international players
Debitos therefore now offers its online-exchange for non-performing loans and receivables at https://www.debitos.de/?language=english also in English. Allowing users to choose their preferred language on the website facilitates a faster and better communication of German bankers with their team members in London. At the same time, the English website enables international investors as well as foreign banks to use the platform without any frictions. Hajo Engelke, managing partner at Debitos, is therefore excited about this step in the development of the young company: "International banks already traded non-performing loans they held in other European countries successfully on our platform in the past. However, the option to display the entire website in English marks an important milestone for us because it enables a smoother transaction process whenever international players are involved and prepares our business for further international expansion."
Higher competition leads to higher transaction prices and increased transparency
In the past, the entire NPL-transaction process was governed by significant administrative effort for the seller. With Debitos, sellers can now for the first time conduct all steps of a transaction from potential buyer identification and buyer selection through due diligence, Q&A and pricing on a single platform. For the first time, a true auction process is facilitated because all buyers who bid on a portfolio are informed in real time when a competitor places a higher bid. The English website now grants international investors access to the exchange. Selling banks therefore benefit from more competition, higher transaction prices and an increased level of transparency.
About Debitos Debitos is Germany's first online-exchange, on which banks and corporates can actively trade both real estate-secured and unsecured non-performing loans as well as receivables. The platform is available at www.debitos.de and allows sellers to offer claims individually or bundled as a portfolio. More than 260 institutional investors compete with one another and place their bids in an online-auction. Through this process, sellers increase transaction prices and transparency. More than 1.300 corporates currently use the exchange to trade future receivables, dunned invoices, enforceable claims/terminated loans and bankruptcy claims. Since launching the exchange in January 2012, a total volume of over 1 billion Euros has been offered on the exchange. Debitos GmbH is headquartered in Frankfurt am Main, Germany. The company's managing partners are Hajo Engelke and Timur Peters.