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Access buys outside loan portfolios for $1/2b


Microlender Access Financial Ltd (AFS) has acquired loan portfolios from two companies valued at over $500 million.

The acquisition grows the net loan book at AFS above $1.5 billion or 35 per cent higher year-on-year.

“During the quarter AFS acquired loan portfolios of Asset Management Company Ltd (AMCL) and Appliance Traders (ATL) Portfolio for a total purchase price of $504 million and realised a gain of $11 million on the transactions,” stated notes prefacing the financials signed by founder and chief executive Marcus James and chairman Rex James.

Published in the Observer
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