In the three months to June 30th 2022, the KRUK Group reported over PLN 657m in recoveries, a 19% increase year on year and an all-time quarterly high. Recoveries in the first six months of the year amounted to PLN 1,279m, which means they grew 20% year on year and reached the highest level in the history of the KRUK Group's half-year figures.
“The strong trend in recoveries has continued for many quarters and this time we again improved on our previous results, reaching another record level. This is very good news and I am very happy about it. This is, of course, a combination of many factors, but the most important is our continuous work on new solutions and improvements to existing processes, including strong technological development of the entire organisation, with, for example, the e-kruk platform, which our clients can use to manage repayment of their debts, or the application of machine learning and advanced statistics in analytical and decision-making processes. I am optimistic about further growth of KRUK. To note, the recovery amounts in foreign markets exceeded the recoveries in Poland. This confirms the growing scale of our business and the international nature of our operations. Being an international player and reporting better and better performance is an incentive to do even more, to expect more from ourselves and achieve even better results," says Piotr Krupa, CEO of KRUK S.A.
In the three months to June 30th 2022, KRUK invested almost PLN 495m in debt portfolios with an aggregate nominal value of PLN 2.5bn. More than 90% of all investments involved the purchase of unsecured retail debts. In the six months ended June 30th 2022, the KRUK Group invested PLN 757m in debt portfolios with a nominal value of nearly PLN 4.7bn, compared with PLN 644m in debt investments with a nominal value of PLN 3.6bn in the first half of last year.
“With continuous efforts to improve our processes, we are becoming more and more competitive in Europe and in the first six months of 2022 we made investments of a record amount in KRUK's more than 20 years’ history and we have already contracted over PLN 200m for forward flow portfolios by the end of the year. Over 80% of the investments are in our foreign markets. It was a strong first six months, and let us remember that the busiest period of the year is yet to come,” Piotr Krupa comments.
Full data for the six months to June 30th 2022 will be published on September 7th 2022.