Financial institutions still have a lot of credit to sell

Financial institutions still have a lot of credit to sell

The increase in credit defaults opened doors to new business segments in the financial area in Portugal.

The increase in credit defaults opened doors to new business segments in the financial area in Portugal. The president of Domusvenda, a company that buys portfolios from customer banks that are having problems paying customers' loans, says that financial institutions "still have a lot of [bad credit] to sell".

On the market since 2004, the company led by João Costa Reis has around 65 thousand credits, which is equivalent to 1.6 billion euros of overdue credit under management in Portugal, a number that has already exceeded the goals established for this year.

Source: Jornal de Negócios

2021-01-12

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