back Back

Collectius secures $581m to boosts Thailand’s loan portfolio

By Gloria Mathias

October 03, 2023

  • APAC Fintech
  • APAC Fintech news
  • APAC news

Collectius, Thailand, Loans Management, Debt financing, Fintech, Singapore FintechCollectius, the restructuring partner for financial institutions in Asia, has secured an additional $42 million (THB1.48 billion) in non-performing loans (NPL) in Thailand.

The deal, which includes a combination of credit cards and personal loans, extends the strong momentum of portfolio acquisition for Collectius since it was licensed by the Bank of Thailand (BoT) in 2016.

Collectius has purchased a total of $581 million worth of NPLs, serving over 700,000 customers in the country. Thailand’s household debt stands at 91% of the country’s gross domestic product, but there’s optimism as employment figures are increasing and the Government is reacting to better economic outlooks with plans to raise the minimum debt repayments from 5% to 8% in 2024 and to the usual 10% in 2025.

The Singapore-based FinTech is preparing to support more Thai customers on their journey to financial freedom by securing additional portfolios over the next 12 months.

Commenting on the transaction, Kian Foh Then, Group CEO at Collectius said, “This acquisition signifies our commitment to supporting Thailand’s financial ecosystem and empowering another 47,000 customers to become debt free. Our approach, backed by our partnerships and digital capabilities, ensures that we can service NPLs in a responsible and sustainable way.”

Furthering its regional footprint, Collectius recently acquired $2.5 million worth of NPLs through a deal with a pioneer digital bank in the Philippines. As a partner since their inception, Collectius has managed the bank’s end-to-end debt collection. As part of this partnership, Collectius will also be launching a pilot programme that will enable partner banks to seamlessly transfer future NPL cases for resolution.

Collectius continues to reinforce its position as the preferred partner for the sale of consumer NPLs in Southeast Asia, by employing technology and digital-led strategies to build additional servicing capacity.

Previous Article

October 03, 2023

Pahal bags $12m loan from DFC to support Women-led SMEs

Read More
Next Article

October 03, 2023

Dubai Islamic Bank taps HPE GreenLake to modernise core Banking platform

Read More

IBSi Daily News Analysis

Data privacy

July 16, 2024

APAC Fintech

Rise in sophisticated attacks, state-level threats, and increased ransom DDoS Incidents

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News


Systems Limited & Formpipe team to drive digitalisation for MEA banks

Read More


Auxilo Finserve raises $30m in equity round from LeapFrog Investments

Read More


DIFISOFT & Quantit develop AI-based financial solutions in Southeast Asia

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
Get your copy now! IBSi Sales League Table 2024