EOS Group Opens New ARM Company in Ukraine

Hamburg, Germany and Kiev, Ukraine – From December 2010 on, the EOS Group (www.eos-solutions.com), an Otto Group company, enters the Ukrainian market. The new local company TOV EOS Ukraine offers debt collection and debt purchase to clients in Ukraine.

Christos Savvides, Member of the Board of Directors of the EOS Group with responsibility for Eastern Europe, explains: “Of all credits in the Ukraine with a total of some 24 billion US Dollar almost 30 percent were rated as defaulting in 2010.” The reason: Individuals who took out loans in foreign currencies, primarily dollars, were hit hard by the devaluation of the Ukrainian Hryvnia. The currency was devalued by over 50 per cent. Therefore, the repayment of foreign currency valued loans became more strenuous – the lower or non-repayment of loans affecting many banks.

“International companies want a partner who, like EOS, ensures service quality while preserving the company’s image and customer satisfaction”, Mr Savvides adds. EOS focuses on the banks’ and on their customers’ needs in order to find acceptable financial solutions for both sides. “We look forward to serving both local and international clients in Ukraine.”

The Ukrainian EOS company will be headed by Aleksey Teslenko. He has been working in the financial sector for the past twelve years, for five years in top management positions. Before he started his job at EOS he was Managing Director for one of the Ukrainian market leaders for outsourced collection and call-centre services.

He says: “We profit from the good connections to and the know how of the EOS Group companies in our neighboring countries. Our clients will benefit from the long term-experience and financial background of EOS.”

About The EOS Group
The EOS Group, an Otto Group subsidiary, is a leading international provider of tailor-made services covering the entire life cycle of a customer relationship – from customer acquisition to electronic payment processing, debt collection and purchase of receivables portfolios. The core business is receivables management. EOS is committed to high standards of debt collection to protect creditors and consumers. With over 5000 employees, EOS serves its 20,000 customers in more than 20 countries worldwide through over 40 subsidiaries. More information: www.eos-solutions.com