KRUK purchases more debt portfolios in Spain

As announced today, KRUK’s Management Board has signed agreements to acquire portfolios of unsecured retail debt with a total nominal value close to EUR 363 million (PLN 1.57bn, when translated at the mid exchange rate quoted by the National Bank of Poland for 19 June 2024) from entities of Spain’s CaixaBank Group.

‘This project marks a significant milestone for KRUK, both in terms of scale and geography. We acquired over 130 thousand debt cases from entities of one of the largest banking groups on the Iberian Peninsula, further expanding our presence in the Spanish market, where we first gained a foothold eight years ago. Our robust and well-resourced local team comprises over 400 professionals ready to manage these new portfolios. Last year, we achieved in Spain a market share in excess of 40% in unsecured retail debt purchase, which is certainly our forte,’ comments Piotr Krupa, CEO and President of the KRUK S.A. Management Board. ‘As a Group, we have a wealth experience spanning more than 25 years, and even though we have become one of the largest players within the debt management industry globally, we keep refining our operational, analytical, and investment processes. We are currently at an excellent juncture in our development, with strong recovery levels and net profit after the first quarter of 2024. Additionally, we have recently expanded our access to bank financing and continue to enjoy robust opportunities in bond issuance. Our efforts are focused on strengthening KRUK’s international standing and technological edge across our four major markets, and this recent investment will certainly bolster our position in Spain,’ concludes Piotr Krupa.