In the first half of 2017, the KRUK Group invested more than PLN 0.5b in the purchase of debt portfolios. Transactions effected outside of Poland represented the largest share in the Group’s purchases. At the same time, investments made in the past translate into growing recoveries. In H1, they reached a record high of PLN 647m.
From January to June 2017, the KRUK Group spent PLN 506m on 49 debt portfolios with a total nominal value of PLN 7.4bn. investment rose largely driven by expenditure made in Q2. In that period, KRUK purchased 34 debt portfolios with a nominal value of PLN 3.5bn for PLN 292m.
‘ Italy accounted for the largest share of our investments in the first half of the year, as we invested in PLN 4.5bn-portfolios. KRUK Italia, our Italian branch, is currently the fastest growing company in the industry and a preferred partner for the local banks and institutions. We work with some of the largest and most renowned Italian banks, e.g. UniCredit, UBI Banca or Banca Monte dei Paschi di Siena, the oldest continuously operating bank in the world. During the past three months, we took steps towards penetrating the non-bank debt portfolio market as well − we invested in debt claims of a local energy provider and of a consumer credit company Compass. The share of our recent investments in the entire Group’s recoveries is increasing,’ said Piotr Krupa, President of the KRUK Management Board.
In H1 2017, recoveries from purchased debt portfolios on KRUK’s all seven markets amounted to PLN 647m, up 45% year on year. In Q2 alone recoveries reached nearly PLN 338m, marking the best half-yearly and quarterly result on record.