Central Bank of Hungary (Magyar Nemzeti Bank), the sole owner of MARK Magyar Reorganizációs és Követeléskezelő Zártkörűen Működő Részvénytársaság (MARK or the Company) will sell the company to APS Investment s.r.o. (APS), which is part of the APS Group.
MARK will strengthen the infrastructure of APS on the Hungarian market in the role of acquisition and servicing company focused on the segment of distressed corporate debts. The Company was established in 2014 and has the functional infrastructure for managing distressed debt portfolios with the focus on corporate loans.
Martin Machoň, CEO of APS comments: "We are glad that MARK is going to join our international expert network. The acquisition of MARK is the next step in strengthening our infrastructure. Our main goals are acquisitions and servicing large volume distressed portfolios following the highest professional standards."
Viktor Levkanič, Investment Director of APS comments: “We have been actively participating in the NPL transactions in Hungary for over two years, primarily at corporate secured and residential NPLs. We see a strong potential for further investment opportunities and also trust the long-term performance of the economy.”
APS, along with Balbec Capital LP, acquired a non-performing credit portfolio composed of residential mortgages worth € 138,9 million (HUF 42,7 billion) in March. The portfolio is serviced by APS Hungary Kft. A strong position on the Hungarian market is part of APS strategy to seek investment opportunities in Central and South-Eastern Europe.
Since the beginning of 2016, APS has expanded its operations into Croatia, Cyprus, and Hungary. Cypriot expansion is based on the joint venture with the Hellenic bank (APS 51 %, Hellenic Bank 49%). The newly established company will service a distressed debt portfolio of € 2.4 billion. The transaction was approved by the European Central Bank and Central Bank of Cyprus. Croatian office was established in January 2017 and has started its operations with an acquired portfolio of corporate non-performing loans with a nominal value of over € 100 million.