GCS Nordic Collection Partner Reports Higher Earnings

Svea Finans and Inkasso, a leading finance and collection company in Scandinavia, announced higher earnings for last year that exceeded management’s expectations.

Svea is a financial company that specializes in receivables factoring and debt collection.  The company employs around 300 people in Norway, Sweden, and Finland.  Svea is a partner of international collection group Global Credit Solutions Limited (GCS).

For the year, Svea Norway reported earnings of $1.53 million on revenues of $13.55 million.  The company also said that it handled in excess of 100,000 collection cases.

GCS also reported that it has commenced testing its Global Case Management system prior to global launch in March.  GCS expects to add further to the group’s contingency collection business with the system.  GCS Partner in Sweden, Svea Sweden, has forwarded 2500 debt collection cases to the GCS Partner in Poland as part of the client pilot program.