Today KRUK has announced that its subsidiary active in the Italian market has won an auction to purchase three portfolios of unsecured retail debt worth nominally PLN 403m (ca. EUR 85.5m). The portfolios will be purchased from an entity of the BNP Paribas Group.
“KRUK is continuing on a path of international expansion. In Italy, where we have built solid operational foundations encompassing the processes of both amicable and judicial collection, we are now poised to buy more debt portfolios. I am pleased with today's news of the auction win, which will drive further growth of our assets in that market. What is also important to me is the fact that we are buying unsecured retail debt, our core asset, and that the seller is a large European banking group,” comments Piotr Krupa, CEO and President of the KRUK S.A. Management Board. “Our business in Italy is thriving and new debt purchases are a natural step in developing the local organisation and the entire Group. I am greatly optimistic about our present and future investments there. I am also full of enthusiasm over the work we have done so far in that market and its potential,” concludes Piotr Krupa.
Data on investments and recoveries for the third quarter of 2022 will be published by the KRUK Group by October 10th 2022.