The KRUK Group has announced the acquisition of a portfolio of unsecured consumer debts with a nominal value of PLN 761m from Piraeus Bank Romania S.A. With a value of PLN 50m, the transaction is the largest one in the history of the Romanian unsecured consumer debt market.
"Once again, KRUK has reached a new level - this time by finalising the largest transaction on unsecured retail debt portfolios in Romania. The agreement is a result of our eight-year presence on the Romanian market, where we have secured a leading position. This transaction marks the beginning of a new phase in building one of the largest debt management companies in Europe," said Piotr Krupa, President of the KRUK Management Board.
In the first quarter of 2015, the KRUK Group acquired 14 new consumer and corporate debt portfolios with a total nominal value of over PLN 511m. Between January and March 2015, investments totalled PLN 44m, up by more than 13% year on year (excluding the mortgage-backed debt portfolio).
"The size of the Piraeus Bank Romania S.A portfolio is impressive compared to the Group's other 14 investments in Q1 2015. However, KRUK sees each of these transactions as equally important, because each acquisition strengthens our foundations. KRUK takes active part in every auction of unsecured, mortgage-backed and corporate debt portfolios. Having established a presence in five countries, we are actively seeking debt portfolio acquisition opportunities on each of those markets. Continued development, business expansion and Group value growth remain our key priorities," Mr Krupa added.