Intrum Justitia launches payment services for e-merchants in the Nordics

 Intrum Justitia is setting up a joint venture, Avarda, offering payments
services to e-merchants in the Nordics. Avarda’s service offering will enable e
-merchants to receive payment instantly while offering consumers the opportunity
to pay through invoice or installments by revolving account. Avarda will offer a
white-label service, allowing the e-merchant to communicate directly with its
customers and thereby strengthen its trademark and competitiveness.
Avarda is owned jointly with TF Bank, which Intrum Justitia has co-operated with
during several years, providing credit management services and purchase of
overdue receivables.TF Bank brings considerable experience for e-commerce
payment solutions. TF Bank is part of a corporate group that also includes
Halens and Cellbes, for which TF Bank manages large volumes of credit and
payment transactions in the Nordic markets. Avarda will use TF Bank’s existing
IT platform and thus offer its clients a solution with a solid track record.

“The launch of Avarda is an important step in the realization of Intrum
Justitia’s strategy to grow in the market of non-defaulted debt, with e-commerce
as a particularly attractive segment. We are very pleased to be able to launch
Avarda together with our long standing partner TF Bank, which brings valuable
experience and a proven platform for e-commerce payments” says Lars Wollung,
President and CEO Intrum Justitia.

Intrum Justitia holds 49 % of the shares of Avarda and will report its holding
applying the equity method. Intrum Justitia has an option to acquire all of TF
Bank’s shares during 2020.

For further information, please contact:

Erik Forsberg, CFO
Tel: + 46 8 546 102 02
Intrum Justitia is Europe’s leading Credit Management Services (CMS) group,
offering comprehensive services, including purchase of receivables, designed to
measurably improve clients’ cash flows and long-term profitability. Founded in
1923, Intrum Justitia has some 3,800 employees in 20 markets. Consolidated
revenues amounted to about SEK 5.2 billion in 2014. Intrum Justitia AB is listed
on NASDAQ OMX Stockholm since 2002. For further information, please visit
www.intrum.com