Perfect storm

The current situation is a challenge for economies and all businesses without any exception. It is like a perfect storm…

For now, under quarantine, we are in a situation of uncertainty. Many people understand that they will lose their business, some ones hope for recovery. But we can’t fully assess the situation. We are squeezed in the framework, and this does not add optimism. Everyone understands that a lot of things will change. When the quarantine regime ends, it will become clearer what challenges we will face. The usual business chains are collapsing, will they recover? This question is difficult to answer unequivocally. Sooner or later, yes. But no one knows how long it will take.

“MBA Consult is a large global debt collection agency. I am confident that we will overcome the crisis. I can’t say that it won’t affect us in any way. We will have to rebuild many business processes and adapt to the new reality. Our business involves many risks, we soberly assess the situation and forecast different scenarios. In my view, this is the right time for businesses to start thinking about what awaits at the end of the quarantine, how and where to move next, ” said Viktor Vodenko, the Global CEO of MBA Consult.

In the financial sector, many companies have already faced unfavorable situation: the level of lending is rapidly declining, people are losing their jobs and cannot pay for loans, while the credit vacations guaranteed by governments will negatively affect the balances of financial institutions. Not all financial market players have reserves to maintain business stability.

Group’s Investment plan

“We are negotiating with some partners: business situation is very difficult, companies were not ready for this turn. But who was? In 2020, our Group plans to make significant investments in the acquisition of non-performing loans in accordance with the strategic development plan for the region. In February, we acquired a large portfolio in Indonesia, in March, we made a deal, and by the end of this month, we will close another large deal with a very important player in the Asian region. We have a number of other deals planned for the nearest future, ” – shared Mr. Vodenko.

“We have a vision for the post-crisis future – out team has calculated all the risks we will face, and determined the next steps for the Group’s development. Since February, we have been actively preparing companies to work remotely. We are not the only collection company that continues working in Asia, but we were the first ones to understand and address the circumstances very quickly. We have an excellent security system, modern technological solutions, and a well-developed contingency plan, so we have not interrupted the companies’ activities for a single day, but on the contrary, we are ready to process large volumes of cases. At the moment, we are ready to support our partners and clients by purchasing NPL portfolios, thus helping them to survive and not to lose their business in the region.”