By Andrei Skvarsky.
Debex Espana, a Spanish company running online auctions, has sold delinquent debts worth a total of 41.6m euros ($49.4m) over the past three months, according to a statement from its parent group Debex.
The debts made up eight portfolios and 33,500 accounts.
Bids went up by an average of 32 per cent during the auctions, a statement from the group, which is a delinquent debt auction specialist, cited Debex Espana sales manager Javier Rodriguez Fernandez as saying.
Besides its Spanish operation, Debex is comprised of units in the United States, Russia and Kazakhstan and has near-term plans to expand into Mexico and the Philippines.
The Spanish central bank puts the total book value of delinquent loans sold in Spain in 2019 at 22bn euros ($26bn).
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