BCMGlobal Selected to Enhance National Financing Services in Saudi Arabia

BCMGlobal to Lead Loan Management in Saudi Arabia

BCMGlobal, a prominent independent loan and mortgage servicer in Europe, has been officially selected to manage the National Financing Support Services Company (NFSC) in Saudi Arabia. This collaboration signifies a pivotal step in the enhancement of the country's loan management sector and supports the nation's broader Vision 2030 initiative, aimed at diversifying its financial landscape.

The NFSC, established by the Saudi Real Estate Development Fund (REDF) and the Saudi Real Estate Refinancing Company (SRC), plays a crucial role in fortifying the mortgage and consumer financing sectors. As BCMGlobal embarks on this journey, its extensive experience of over 25 years in the European market will be instrumental in elevating NFSC's operational capabilities.

Expanding Local Capacity

BCMGlobal is set to deploy a dedicated management team within Saudi Arabia, including plans to appoint a Director of Services to spearhead the next phase of NFSC's development. Expansion of service offerings and local presence is a priority, with ambitions to recruit personnel and enhance operational capabilities in the region. The firm intends to broaden NFSC's management capacities beyond residential mortgages, encompassing consumer and commercial loans, thereby introducing asset management and financial intermediation services tailored to support the continuously evolving financial ecosystem in Saudi Arabia.

Meeting Growth Demands

These advancements will not only provide vital infrastructure for local institutions but also facilitate international lenders interested in the burgeoning financial markets of Saudi Arabia. The initial interest from major banks and international investment firms underscores the quality of investment opportunities in the Kingdom's financial sector, reflecting a commitment to modernize and expand its financial services.

Simon Fitness, CEO of BCMGlobal, stated: "With our profound skill set in managing active loans, recoveries, and distressed assets, BCMGlobal is poised to bring significant operational expertise to the Kingdom. Our focus is on domestic integration, cultivating teams and technology locally to deliver premier service that aligns with Saudi Arabia’s Vision 2030 goals."

Paul Burdell, CEO of LCM Partners, emphasized the ambition of Saudi Arabia in shaping its financial markets, stating their pride in partnering with entities like REDF and SRC. He noted, "BCMGlobal’s service expertise, data capabilities, and technology will enhance these efforts, contributing to a robust and capable institution with the NFSC."

A Significant Milestone

With approximately €45 billion in assets managed and presence in five European jurisdictions, BCMGlobal's partnership with NFSC marks a significant milestone in its international expansion efforts. This collaboration reinforces BCMGlobal's strategic role in advancing the infrastructure of financial services in Saudi Arabia.

As BCMGlobal invites talent and develops infrastructure, it remains committed to shaping a modern and dynamic financial services sector that resonates with the goals set forth by the Vision 2030 initiative. This partnership not only allows for the growth of NFSC but also signifies a broader push towards a more diversified and accessible financial system in the Kingdom.

For more information about BCMGlobal and its services, visit www.bcmglobal.com.