The KRUK Group has invested PLN 48m to purchase another large consumer debt portfolio in Poland, with a nominal value of PLN 317m, from Santander Consumer Bank. In terms of investment value, the portfolio is similar to another large debt ledger purchased from Pireaus Bank in Romania in April 2015 for PLN 50m, whose nominal value totalled PLN 761m.
“We are gathering momentum after the usual slow start into the year. In the first quarter, we invested PLN 45m in new debt portfolios. The expenditure on the two portfolios covered by our reports in the second quarter totalled almost PLN 100m, and we also purchased some smaller portfolios. We are satisfied with our investments this year,” said Piotr Krupa, President of the Management Board of KRUK S.A.
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 45m, up by more than 13% year on year (excluding the mortgage-backed debt portfolio).
“The scenario we talked about a couple of months ago is now materialising. We are seeing that banks in Poland, Romania, the Czech Republic and Slovakia plan to maintain the high supply of debt portfolios. Several large transactions and a lot of smaller ones are expected to be finalised by the year end. KRUK is not slowing down – we participate in every auction, and there is always room for more portfolios in our balance sheet. 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.