For the three months to June 30th 2023, the KRUK Group has posted PLN 776m in recoveries from purchased portfolios, an 18% increase year on year and an all-time quarterly high. Recoveries for the first six months of the year totalled nearly PLN 1,501m, having grown 17% year on year to reach their highest level in the history of the KRUK Group’s half-year figures.
“The strong trend in recoveries continues as we are performing well across all markets on the back of progressive operational improvements and technological advances. This is crucial for an international group like the one KRUK has become. We have notched up the highest ever recoveries for a half-year period, totalling PLN 1.5bn,” says Piotr Krupa, CEO of KRUK S.A.
In the three months to June 30th 2023, the KRUK Group invested PLN 653m in debt portfolios with an aggregate nominal value of PLN 2.6bn. In the six months ended June 30th 2023, the KRUK Group invested PLN 1,178m in debt portfolios with a nominal value of nearly PLN 5.5bn, compared with PLN 757m in debt investments with a nominal value of PLN 4.7bn in the first half of last year. More than 90% of all investments involved the purchase of unsecured retail debts.
“The past period was highly successful also in terms of new purchases, which focused primarily on unsecured retail debt. We were investing in every market, with a predominant share of Poland and Italy,” comments Piotr Krupa. “Our market position is strengthening by the quarter with more debt auctions won, most recently in Spain, where one of the leading banks had put up for sale debt cases worth nominally close to PLN 1.8bn – this win will of course be finalised after the second quarter and is not included in today’s report. We are not losing momentum, setting ourselves ambitious targets, celebrating their achievement and raising the bar higher. This is how we have operated for 25 years, and this is how we want to run our business going forward”.
Full data for the three months to June 30th 2023 will be published on August 10th 2023.