We have made significant progress despite a challenging year. Combined with a very promising market ahead, our focus is to deliver attractive returns, while helping people to keep their commitments.
We are proud of being able to ensure business continuity while continuing to pursue our digital agenda. When the pandemic first hit, we were able to completely transform our business by having everyone work from home while maintaining the same high quality of customer support, ensuring the protection of customer information, and staying engaged with our colleagues. We asked people to go the extra mile, but it turned out we had just joined a marathon. It is in times like these when a company’s true values show. I am very proud about the culture we have built in Hoist Finance. The results from the Great Place To Work® survey in 2020 demonstrated that the organisation feels the same. With a response rate of 91 per cent and Trust Index© of 77 per cent, we have moved up 16 percentage points from 2018. It is a significant improvement in all dimensions and markets, which proves that we have done the right things to support our employees during these challenging and uncertain times.
Ready for 2021
As the events following the pandemic unfolded, we decided to not make any large investments and instead focus on protecting our capital position. The supply of portfolios in the market has also been significantly affected due to the considerable global uncertainties. Industry experts estimate that NPL volumes could potentially double as a result of Covid-19. Hoist Finance plays an important role in the return to a healthy financial market. Helping people stay committed to paying off their debts and re-entering the financial ecosystem is our core business. We are strongly devoted to our amicable approach by arranging sustainable repayment plans that help customers get back on their feet. At the same time, we contribute to upholding fair and stable credit markets. The solutions we offer will become more needed than ever in managing the fallout from the pandemic.
I would like to take this opportunity to thank our employees for all the hard work, for living our values and for making sure that we keep helping people keep their commitments and for maintaining the promise to be by your side.
Klaus-Anders Nysteen, CEO