Capita to manage loan book and legacy banking with ACCLM

Capita plc - Capita to manage loan book and legacy banking with ACCLM

PR Newswire

London, November 20

Capita confirms today that it has agreed heads of terms for a contract to manage Rabobank owned ACCLM Loan book activities and legacy banking services. The contract is worth an estimated €55m (£38 million) over five years and will start on February 1 2016 with the transfer of ACCLM colleagues to Capita under transfer regulations, subject to regulatory approval.

The contract with ACCLM confirms Capita’s commitment to continued growth in Ireland in support of financial services and banking businesses across all sectors and asset classes. The total loan book under management on behalf of ACCLM will be comprised of 17,500 loans with a value of approximately €4bn. 

Andy Parker, Capita Chief Executive, said: "This deal will enhance Capita’s position in Ireland. The contract builds on Capita’s existing and wide-ranging commercial debt-servicing capabilities across a range of industries.”

It is anticipated around 180 employees will transfer to Capita, which already has a workforce in excess of 1,700 people in Ireland.

ENDS

For further information:Capita plcTel: 020 7799 1525Andy Parker, Chief Executive OfficerShona Nichols, Executive Director, CommunicationsAndrew Ripper, Head of Investor Relations

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Note to editors

Capita is a leading UK provider of technology-enabled customer and business process services and integrated professional support services. With 74,000 people at over 400 sites, including 80 business centres across the UK, Europe, India and South Africa, Capita uses its expertise, infrastructure and scale benefits to transform its clients' services, driving down costs and adding value. Capita is quoted on the London Stock Exchange (CPI.L), and is a constituent of the FTSE 100 with 2014 revenue of £4.4 billion. Further information on Capita can be found at: www.capita.co.uk.