KRUK wins auction to purchase debts in Spain

As announced in a current report released today, KRUK has won a debt sale auction in Spain. The resulting agreement will provide for the purchase of unsecured retail debts with a total nominal value of around PLN 615m.

‘Today I can comment on very solid first-quarter results released yesterday, but also on another portfolio win, this time in Spain. New unsecured retail debts, the kind of debts we have the most experience in, will be added to our asset base. We are waiting for the transaction to close, and we are ready to handle the new cases,’ commented Piotr Krupa, CEO and President of the Management Board of KRUK S.A. ‘We were profitable across all geographical markets, including Spain and Italy, last year. Therefore we are immensely pleased with transactions like the one made today. They are a testament to our growing competitive advantage in the pricing and buying processes in Western Europe, also demonstrating our operational and technological readiness to handle new cases. Please note that our Spanish operations have the largest proportion of cases settled online, representing even 98% of all settlement agreements. Our progressive technological advancement facilitates efficient and profitable servicing of the growing volumes of debts in this market,’ added Mr Krupa.

Complete data on investments and recoveries for the second quarter of 2022 will be published by the KRUK Group by July 10th 2022.