In the first three quarters of 2017, the KRUK Group invested PLN 767m in new debt portfolios. Recoveries in the period, mostly in foreign markets, reached PLN 994m, accounting for more than in the 2016 full-year result.
In the first three quarters, KRUK purchased a total of 85 debt portfolios with an aggregate nominal value of PLN 10bn. In Q3 alone, KRUK spent PLN 261m, including ca. 60% in Poland, to purchase debt portfolios with a nominal value of PLN 2.6bn.
“We still have three months left before the end of the year, but we can already say that in 2017 we have been very active in terms of investments. In each quarter we managed to invest a quarter of a billion zloty on average, and this is surely not our last word. The market offers us new investment opportunities and we participate in auctions held in each of our seven European markets. In the third quarter, we became more active in Poland and purchased 10 debt portfolios, mostly debts owed to banks, for more than PLN 150m. The largest debt portfolio, with a nominal value of PLN 420m, was purchased from Getin Noble Bank,” said Piotr Krupa, President of the Management Board of KRUK S.A.
Recoveries from purchased debt portfolios in the first three quarters of the year reached PLN 994m, exceeding the 2016 full-year result. The majority of them (record-high PLN 347m) were made between July and September.
“It has been another consecutive quarter delivering strong recoveries, mostly outside Poland, with Western Europe's share rising. We are observing the progress especially in Italy, as consecutive quarter ended with higher recoveries, despite the holidays period in last months. We are building the local operations. I am pleased to inform the headcount in Italy has already exceeded 200 people,” said Piotr Krupa.