The KRUK Group has finalised an agreement with BZWBK to purchase a portfolio of mortgage-backed debt with a total nominal value of PLN 443m for a price of PLN 70m. The information about KRUK winning the auction for the portfolio was announced by the Group at the end of November. Taking into account the transaction executed with Getin Noble Bank in March, the KRUK Group has spent a total of PLN 300m on mortgage-backed debt.
“The second large portfolio of mortgage-backed debt purchased this year confirms our aspirations and our interest in the attractive debt purchase market. We are glad to see that more banks are starting to sell their mortgage debt portfolios. We are ready to negotiate further potential transactions,” said Piotr Krupa, President of the Management Board of KRUK S.A.
Also on December 16th 2014 the Group signed an agreement with Banca Comerciala Romana (BCR), a member of the Erste Group, for the purchase of consumer debts with a total nominal value of PLN 117m. The portfolio was bought for PLN 27m. In the first three quarters of 2014, the KRUK Group invested PLN 355m in debt portfolios. With the BZWBK and BCR portfolios taken into account, this year the Group has spent a total of some PLN 452m on debt with a total face value of at least PLN 2.8bn, which represents an increase of over 23% on PLN 367m reported last year.
“In the fourth quarter we have won some smaller auctions as well, which help us build our portfolio base. But, looking at the transactions reported to date, we can already say that this year will be a very successful one for us in terms of investments. A summary of transactions executed in 2014 and in the last quarter of 2014 will be published at the beginning of January 2015,” added Mr Krupa.