Rosbank creates its own collection agency

Rosbank separated the business of collecting overdue debts into an independent collection company. One of the reasons was new requirements that narrowed the options for creditors. In addition, the agency will allow you to optimize the collection process and save on the maintenance of a specialized department, experts believe. However, they doubt that the creation of captive collectors will become a popular practice among banks – the payback period and reputational risks are too long.

Participants in the debt collection market noticed that in the last days of December a new player appeared on it – RB Collect, a subsidiary of Rosbank. The bank confirmed the creation of a collection agency, which the FSSP included in the register on November 23. The bank itself has been providing collection services under an agency scheme for more than six years; its portfolio now includes debts from more than 35 partners.

The entry of a new player into the market indicates that specialized regulation in general creates conditions for more active development of the collection segment and the separation of this area into a separate company, notes the National Association of Professional Collection Agencies (NAPCA).

Thus, from February 2024, changes to the relevant legislation will come into force, according to which creditors can only collect their own arrears; “other people’s” arrears can only be collected by a professional collection agency included in the registry.

The creation of a collection agency did not require significant investments, since the company will continue to use the bank’s IT infrastructure. “RB Collect at this stage will focus on providing collection services under an agency scheme with a focus on auto and consumer lending, leasing, as well as the accounts receivable market. Currently, the assignment market seems to us to be overheated in terms of the price of portfolios with a payback period of five to seven years and a high regulatory risk,” explains Evgeniy Senkovsky, director of the department for working with overdue debts of Rosbank. The main reason for launching its own collection agency may be the credit institution’s desire to increase the efficiency of settlement, another Kommersant source in the industry believes.

However, it is unlikely that the creation of captive collection agencies will become a trend in the market, Kommersant’s interlocutors in the collection market believe. In particular, Kommersant’s interlocutors in banks spoke about the absence of plans to launch their own collection agencies, explaining this by the lack of business prospects for the direction and high reputational risks.

“The start of a new collection agency can be quick and successful given the synergistic effects with the bank, but we do not expect a rapid takeover of the market niche of other players by the new company in the medium term: the parent bank does not have a high share of overdue debts in the retail portfolio,” points out the director of bank ratings of the Expert RA agency Ivan Uklein.

Collection is now a business with a very long payback period (from five years) and high prices, notes Kommersant’s interlocutor in the foreclosure market. According to him, in the assignment market in December, transactions took place at 23–26% of the debt amount, and the volume of debt transfer under the agency scheme is small, and none of the banks is ready to freeze funds for a long period. In addition, “the emergence of a new near-bank player on the collection market with great opportunities will lead to a further increase in prices,” notes Kommersant’s interlocutor at a large collection agency.

Polina Trifonova