LONDON, August 16, 2012 /PRNewswire/ --
Link Financial is pleased to announce that cash collections across its European footprint reached €50 million in July 2012. This important milestone reflects strongly on the continued development of the company's pan-European loan servicing and debt purchasing capabilities.
New contract wins in the asset finance and leasing area have also helped the company's volumes along with the growing imperative within banks, credit card issuers and consumer finance lenders to deleverage their balance sheets and strengthen their capital base through the sale of their non-performing loan (NPL) portfolios.
Standard & Poor's (S&P) recently reviewed the company's servicer ranking raising it to 'STRONG - Outlook Stable' making Link Financial their highest rated consumer loan special servicer in the UK.
Notes to the editors:
Link Financial is a leading purchaser and servicer of both performing and non-performing loans, managing more than 1.2 million customers and €6 billion of receivables across its European platform. The company is headquartered in the UK, with further operational centres in Spain, Italy, Germany and Ireland.
Link's institutional shareholders include Lloyds Banking Group and Cheyne Capital Management.
For further information, please contact:
Gerald Elliott, Communications Director, LINK Financial
T: +44(0)20-7150-0228, E: [email protected]
Link Financial, 89 Albert Embankment, London SE1 7TP, UK
SOURCE Link Financial