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On the way:

Jochen Prinz (left) and Karl-Heinz Reisach at the headquarters of Münchener Hypothekenbank

map_ruf_des_erfolgs_deutschland_spanien Created with Sketch.

Prestige helps companies thrive in competitive situations. Two examples demonstrate how EOS establishes a close relationship with clients – to the mutual benefit of all.

The scene is Munich, Germany. In a prime location near the Hofgarten park, you will come upon the head office of the Münchener Hypothekenbank (MünchenerHyp for short). A real treasure trove of data slumbers in the 120-year-old bank’s cellar vaults. One document records the sale to EOS Immobilienworkout of a portfolio of foreclosed loans secured by real estate that took place more than ten years ago. Hundreds of what are called ‘mirror documents’ or copies of original documents containing all the details of the receivables package were prepared for evidence purposes in case of disagreements at a later date.

However, the vault has not been opened to this day, since there has been no need to do so. Karl-Heinz Reisach, Head of Workout-Management of MünchenerHyp, says: ‘A quick phone call was all that was needed to clarify a point. That’s how I envision trustful cooperation’. For him, that also includes having both parties complying with contractual agreements, keeping their word in any oral agreements and also helping each other above and beyond any formal contracts.

Really good business partners:  Jochen Prinz (left) and Karl-Heinz Reisach have worked in close cooperation for years
Really good business partners:

Jochen Prinz (left) and Karl-Heinz Reisach have worked in close cooperation for years

Reliable partner

This attitude is shared by Jochen Prinz, Managing Director of EOS Immobilienworkout. This transaction was the first one concluded by EOS with MünchenerHyp, but many have followed since then. Mr Prinz values reliability as well as rapid, flexible and pragmatic solutions. ‘Our offers are realistic and we only make commitments that we can keep’, Mr Prinz emphasises. He went on to observe that some competitors, particularly Anglo-American investors, would often take a more aggressive stance in negotiations, offering high prices for portfolios with which they would subsequently speculate instead of working them out responsibly themselves. In contrast, EOS Immobilienworkout has built up the image of a particularly reliable player in the transparent German market. A large number of studies substantiate just how important a company’s esteem is for its success. In scholarly research, reputation is often defined as the interaction of credibility, trustworthiness, reliability and a sense of responsibility. Charles Fombrun, Head of the Reputation Institute in New York (USA), compares the effect of a good reputation with that of a magnet. High esteem attracts new clients and heightens trust and acceptance by clients, investors and the general public. Mr Fombrun describes the economy in times of converging products and services as the ‘reputation economy’ in which this intangible resource contributes to the defence and enhancement of a company’s competitive position.

Code of Conduct as DNA

The EOS Group also underpins its reputation by means of a Code of Conduct which applies for all employees worldwide. ‘Our Code of Conduct is like the DNA of our Group. It says that we treat our partners, debtors and employees with respect and meet the objectives of our clients in the best possible manner’, explains Klaus Engberding, Chairman of the EOS Group’s Board of Directors. EOS is also active in national and international trade associations such as the Federation of German Debt Collection Agencies (BDIU). ‘In this way we contribute to setting reliable standards for equitable and responsible debt collection and enhancing the reputation of the industry among the public at large’, says Mr Engberding.

The example of EOS Spain also shows the close association of a good name with trust-based client relationships: In 2016, Abanca awarded the company a contract covering a receivables portfolio amounting to 1.4 billion euros. ‘We had previously impressed the bank with the quality of our services when acting as a client in fiduciary collection’, says Manuel González Cortés, Managing Director of EOS Spain. This explains why more than the financial aspect was crucial for Abanca when selecting the purchaser. ‘We beat other bidders with similar prices because Abanca trusted us to protect its good name’, explains Mr González. An excellent reputation is as much a major competitive advantage for EOS as it is for its clients.

Data troves:

Hundreds of file copies fill the vaults in the financial institution’s basement.

Programmed for the future


For the thirteenth time in a row credit agency Euler Hermes Rating awarded EOS Holding with an ‘A’ rating, attesting to its continued low financial risk. Reasons for this assessment of the Group’s creditworthiness are, among others, its high earnings power as well as very solid equity base and debt repayment capacity. Its many years of experience in valuing and recovering non-performing receivables, a strong market position in Germany and a broad footprint in Western and Eastern Europe were seen as especially positive points by Euler Hermes.