In H1 2015, the KRUK Group generated a record-breaking PLN 398m in recoveries from purchased debt portfolios. In Q2 2015 alone, recoveries amounted to just under PLN 211m, up 13% relative to the first three months of 2015.
“We have clearly accelerated. We achieved 56% of last year’s total recoveries in just two quarters. The key to strong recovery performance is our operating model that we refine on an ongoing basis. We also benefit from improving economic conditions. Increased efficiency, as well as falling unemployment and rising incomes, are particularly important when we look at KRUK’s overall potential. From the launch of its operations to the end of June 2015, KRUK bought debt portfolios with a nominal value of PLN 24.0bn, with recoveries amounting to PLN 3.1bn to date. So this is just the beginning,” says Piotr Krupa, KRUK S.A.
CEO. In the first six months of the year KRUK made significant investments in new debt portfolios in Poland, Romania, Czech Republic, and Slovakia. Group entities invested PLN 221m in 30 debt portfolios with a total nominal value of PLN 2.3bn. In Q2 2015 alone, the Group invested PLN 177m in portfolios with a face value of PLN 1.8bn, which is fourfold more than in the corresponding period of 2014.
“Our investments are also gathering pace, which is good news ahead of the second half of the year, which we believe is likely to see more attractive transactions on the market. All markets, including Germany, offer a number of interesting investment opportunities. And the portfolios acquired in the first half of the year will be generating profits in 2015 and beyond,” says Piotr Krupa. Since the launch of its business, the KRUK Group has purchased a total of PLN 24.0bn in unsecured consumer debt portfolios, consumer mortgage-backed debt portfolios and corporate debt portfolios in four markets: Poland, Romania, Czech Republic and Slovakia. This year, KRUK is planning to purchase its first portfolio in Germany that will mark its entry into a Western European market. The Group’s full Q2 2015 results will be released at the end of August.