Georg Kovacs, EOS KSI: " The new norms of accreditation will influence the debt recovery market"

This year, the debt recovery market will slow down its rate of development as a consequence of the impact that the new settlements from BNR will have towards the number of loans and , as a consequence, towards the number of debts declared by the banks, considers Georg Kovacs, the general manager of "EOS KSI Romania" , the leader in this domain. "The impact on the debt recovery market will be felt in about 6-9 months", considers Georg Kovacs. He appreciates that in this year, the development of the market will be situated between 15% and 25%, in comparison with the average of 47% from 2007 (nominally 25 million Euro ). At the same time, the evolution in 2009 depends a lot on the banking market, that represents the major part of EOS KSI clients. " If last year one third from our agreements were made with banks, this year their number decrease but, on the other hand, we are dealing with a constantly increasing number of clients from small and medium companies.", explained Georg Kovacs. The decrease of the fees caused by the continuous growing in this domain and the increase of the salaries became a challenge for these types of companies" declared the general manager. The value of a debt portfolio that the debt recovery companies offer to their potential clients from our country lowered from 20%-25% to 15%-20%, declared the manager of EOS KSI and he considers that the reason is the big difficulty to collect the debts because of the increasing number of debtors with a high risk profile. This trend is also valid at an international level, especially in the United States , Georg Kovacs considers. EOS KSI Romania intends to remain the leader on the market in the next 2-3 years, with an annual increase of 15%-25%, the turnover that the general manager of the company estimates for this year being 11,5 million Euro. The estimated profit for this year is 20%, constant in comparison with the one from the last year, as the company intends to spread the network over the whole country, to invest in better computer technology, to bring about new clients in the IMM area, the representatives of the company continue to inform. In 2007, half of the annual turnover of EOS proceeded from the recovery services provided by EOS KSI, while the cash-flow management (another service provided by yhe company) had a weight of 38% and the transfortier recovery services and the computer management had a weight of 12%, according to the information offered by the company. The clients portfolio of "EOS KSI Romania" is over $80 million, cca 90% from the telecomunication operators, 14 banks, insurance companies, non-banking financial institutions (IFN), cosmetics companies , IT companies, and also distribution, auto, constructions and transport companies being part of it, EOS informs.