KRUK Group reports marked increase in investments in Q1 2013

In Q1 2013, capital expenditure incurred by the KRUK Group to purchase debt portfolios totalled PLN 50m. The nominal value of the portfolios was PLN 372m. In the first quarter of the year, the Group purchased 13 portfolios, predominantly banks’ retail receivables, including three in Poland, five in Romania, and five in the Czech Republic and Slovakia.

Compared with the first quarter of 2012, capital expenditure spent to purchase debts increased four-fold.

In Q1 2012, capital expenditure incurred by the Group to purchase debt portfolios totalled PLN 12m. The nominal value of the portfolios was PLN 216m.

“We expect the total capital spending on retail debt purchased on the Polish market will remain broadly flat on the previous year. We estimate the value of the market to be at least PLN 1.1bn. Our goal for 2013 is to achieve growth in investments as compared with the previous year,” said Piotr Krupa, President of the KRUK Management Board.

Last year, the KRUK Group purchased debt portfolios with a nominal value of PLN 3.6bn. The Group spent a total of PLN 309m to purchase debt portfolios in Poland, Romania, the Czech Republic and Slovakia. A year before, the Group's capital expenditure hit its record high of PLN 569m.

“This year, our capital spending may range between the last year's figure and the record-setting 2011 level,” added Piotr Krupa.