The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookiesbefore using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.
BANKING

Mount Street to manage FIBR’s legacy loan portfolio

The specialist loan servicer and portfolio manager has grown fast but sees high demand from banks and investors to manage illiquid credit.

SME-digital-phone-iStock-960.jpg
Photo: iStock

FIBR, the European digital bank previously known as Amsterdam Trade Bank (ATB), announced on Tuesday the appointment of Mount Street to manage its €211 million legacy shipping and trade and commodity finance portfolio.

This used to be ATB’s trademark lending specialty.

This transaction is a blueprint for regulated banks or insurance companies seeking to transform
Stephan Plagemann, Mount Street Group
Stephan-Plagemann-Mount-Street-960.jpg

Now, as FIBR completes its digital transformation into a platform bank focused on small and medium-sized enterprises, it sees outsourcing to a third party as a good way to switch off high fixed-cost risk-management and loan-management systems for these old assets.

Oren Bass, chief executive of FIBR, told Euromoney when discussing the transformation last year, that its ambition is to have a €500 million book of SME loans by the end of 2022.

“This is not a startup,” Bass told us, “this is, in effect, a scale-up.”

That’s still a big shift for a small bank.

Stephan


You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?