Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Arrow Global Ltd    ARW   GB00BDGTXM47

ARROW GLOBAL LTD (ARW)
Mes dernières consult.
Most popular
  Report  
Delayed Quote. Delayed  - 04/23 05:35:18 pm
372 GBp   -0.80%
04/17ARROW GLOBAL : Notice of Q1 2018 results
PU
04/12ARROW GLOBAL : Director/PDMR Shareholding
PU
02/16ARROW GLOBAL : Block listing Interim Review
PU
SummaryQuotesChartsNewsCalendarCompany 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets

Arrow Global : Debt collector Arrow Global's 9-month revenue rises

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/09/2017 | 09:05am CEST

(Reuters) - Arrow Global Group (>> Arrow Global Ltd) reported higher revenue for the first nine months of 2017 as it bought more non-performing loans (NPL) and non-core assets from banks in Europe, driven by the continued reform in the region's banking sector.

(Reuters) - Arrow Global Group (>> Arrow Global Ltd) reported higher revenue for the first nine months of 2017 as it bought more non-performing loans (NPL) and non-core assets from banks in Europe, driven by the continued reform in the region's banking sector.

The debt purchaser and manager, which buys defaulted customer accounts from retail banks and credit card companies, said revenue rose to 231.6 million pounds in the nine months ended September, from 164.3 million pounds a year earlier.

The company's pretax profit rose to 20.1 million pounds in the period, from 14.2 million pounds a year earlier, driven also by a jump in core collections and revenue from asset management.

Arrow Global, which services portfolios in Britain, Portugal, Holland, Belgium, France and most recently entered Italy, said core collections rose 13 percent to 244.1 million pounds in the nine-month period.

The debt collector said organic purchases of loan portfolios rose 30 percent to 155 million pounds in the period.

Regulatory pressure on Europe's banks to offload the almost 1 trillion euros of non-performing loans on their books has benefited Arrow Global and other collection companies such as Intrum <IJ.ST> and Hoist Finance (>> Hoist Finance AB (publ)).

Arrow Global said the outlook for NPLs across its markets remained "attractive", supported by the European Central Bank's recent guidance on accelerated provisioning.

The ECB plans to ask Euro area banks to set aside more cash to cover bad loans, making it prohibitively expensive for lenders to keep sitting on them, a draft proposal seen by Reuters showed last month.

Deloitte, one of the world's top four accounting firms, said in a report that the European loan portfolio market had a slow start in the first half of 2017 as sellers and investors pushed deals into the second half of the year.

However, with a large number of ongoing deals still in the pipeline for the second half, the total market for 2017 is set to exceed the record deal making of the previous two years when over 100 billion euros (88.25 billion pounds) of deals were concluded, Deloitte added.

(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Gopakumar Warrier and Amrutha Gayathri)

Stocks treated in this article : Arrow Global Ltd, Hoist Finance AB (publ)
Stocks mentioned in the article
ChangeLast1st jan.
HOIST FINANCE AB (PUBL) 1.03% 78.3 Delayed Quote.-15.99%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ARROW GLOBAL LTD
04/17ARROW GLOBAL : Notice of Q1 2018 results
PU
04/12ARROW GLOBAL : Director/PDMR Shareholding
PU
02/16ARROW GLOBAL : Block listing Interim Review
PU
02/09ARROW GLOBAL : s) in Company
PU
02/02ARROW GLOBAL : s) in Company
PU
01/31ARROW GLOBAL : s) in Company
PU
01/30ARROW GLOBAL : Director/PDMR Shareholding
PU
01/29ARROW GLOBAL : Notice of Results
PU
01/17ARROW GLOBAL : Appointment Group COO
PU
2017ARROW GLOBAL : Director/PDMR Shareholding
PU
More news
News from SeekingAlpha
03/01ARROW GLOBAL GRP PLC ORD 2017 Q4 - Results - Earnings Call Slides 
2017ARROW GLOBAL GRP PLC ORD 2017 Q3 - Results - Earnings Call Slides 
2017ARROW GLOBAL GRP PLC ORD 2017 Q2 - Results - Earnings Call Slides 
2015Arrow Electronics to acquire immixGroup 
2015Why Arrow Electronics' Stock Is A Good Investment Opportunity 
Chart ARROW GLOBAL LTD
Duration : Period :
Arrow Global Ltd Technical Analysis Chart | ARW | GB00BDGTXM47 | 4-Traders
Technical analysis trends ARROW GLOBAL LTD
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Managers
NameTitle
Lee Michael Rochford Group Chief Executive Officer & Executive Director
Jonathan William Bloomer Non-Executive Chairman
Dave Sutherland Chief Operating Officer
Paul Cooper Group Chief Financial Officer & Director
Iain Charles Andrew Cornish Senior Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
ARROW GLOBAL LTD-5.48%0
MITSUBISHI UFJ LEASE & FINANCE CO LTD-1.47%5 542
L&T FINANCE HOLDINGS LTD-5.20%4 961
CHAILEASE HOLDING CO LTD--.--%4 422
BURFORD CAPITAL LIMITED27.43%4 090
FAR EAST HORIZON LTD16.12%3 927