KRUK posts record first-quarter 2022 recoveries

KRUK posts record first-quarter 2022 recoveries

In the three months to March 31st 2022, the KRUK Group reported over PLN 623m in recoveries from its purchased portfolios, a 22% increase year on year and an all-time quarterly high.

‘I am very pleased with our first-quarter recoveries, particularly with the figures posted in the final weeks of the past quarter. We work hard to streamline our processes and deploy new solutions, which has enabled us to steadily raise the operational bar. We operate efficiently in all our markets, with our performance trends and figures reinforcing my optimistic business outlook. We are constantly analysing changes in the legal and macroeconomic environment, including growing interest rates in Poland. We expect an increase in financial costs, but we hope that the positive trend in recoveries will continue and will allow us to further exceed our repayment plans. KRUK has already become a major international market player in Europe, but our ambitions are much greater. The progress of digital transformation and technological development has allowed us, and will allow us in the future, to successfully tackle new challenges and achieve even better results,’ said Piotr Krupa, KRUK CEO.

In the three months to March 31st 2022, KRUK invested almost PLN 262m in debt portfolios with an aggregate nominal value of PLN 2.2bn. In the same period of 2021, KRUK invested PLN 159m in debt portfolios with a total nominal value of PLN 877m. The largest purchases were made on the Romanian market, but the Group also invested in Italy, Poland, the Czech Republic, and Spain.

 ‘The start of the year was busy in terms of portfolio supply, and we have been active in virtually all markets. We participate in auctions of all types of debt, and have traditionally invested primarily in unsecured retail debt. In aggregate, actual investments exceeded our first-quarter budget. I am particularly pleased with our investments in Romania, which were in excess of PLN 100m,’ noted Mr Krupa. ‘The record performance we delivered last year and at the beginning of this year motivates us to work even harder’, added Mr Krupa.

Full data for the three months to March 31st 2022 will be published on April 28th 2022.

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