KRUK’s recoveries and investments hit new highs in 2021

In 2021, amounts recovered from portfolios purchased by the KRUK Group topped PLN 2.2bn, up 21% year on year, setting a new record for KRUK. In the fourth quarter of 2021 alone, recoveries from portfolios purchased by the Group totalled more than PLN 600m, up 23% year on year.

“This time last year, we were pleased to report the historically highest recoveries from debt portfolios we had purchased, coming in at PLN 1.8bn. But in the year just ended, the amounts recovered by KRUK went up by another PLN 0.4bn, breaking a new record. This makes me very happy, especially that recoveries rose in each of our operating markets, surpassing the already robust results of 2020. We mainly owe this success to the long years of work, throughout which we have consistently developed and honed our skills across various areas of the debt management process,” said Piotr Krupa, CEO of KRUK S.A.

In 2021, KRUK invested over PLN 1.7bn purchasing debt portfolios with a total nominal value of nearly PLN 9.7bn, the highest amount in more than two decades of its operating history. The largest ever purchases were made on the Polish market, but the Group also invested in Italy, Romania, Spain, the Czech Republic and Slovakia. In the fourth quarter of 2021 alone, KRUK’s investments reached PLN 806m, up 134% year on year.

 “I am not in the least surprised by the record high purchases made by KRUK in 2021. For many years, we have been hard at work refining our operating capabilities, enhancing asset valuations and securing access to sound sources of finance. Last year, we invested across the full spectrum of debt types covered by our business, although our key focus remained on unsecured retail debt,” commented Piotr Krupa. “In terms of new investments in 2021, the biggest chunk of the debt market pie in both Poland and Romania went to KRUK, as it won most of the debt sale auctions that were of interest. At the same time, our strong operating performance in Italy and Spain, driven by solid recoveries and effective debt collection processes, allowed us to step up investments also on those two markets. Last year, we also entered into several forward flow agreements up to 2023, building an investment base for the future. As KRUK’s business scale has risen to a new level, our focus in the coming years will be on continued development and performance growth,” said Piotr Krupa.

The complete set of data for 2021 will be released on March 15th 2022.