The KRUK Group has won an auction to purchase a portfolio of mortgage-backed debt and related security from BZWBK S.A., with a total nominal value of approximately PLN 443m. This is KRUK’s second significant investment this year in the new mortgage-backed debt market segment in Poland.
“This win is a consequence of the Group’s growth. Our experience allows us to confidently achieve new milestones on the mortgage-backed debt market that is opening in Poland today. KRUK already holds the lead in the market and is poised to actively participate in its growth,” said Piotr Krupa, President of the Management Board of KRUK S.A.
In the first three quarters of 2014 alone, the KRUK Group spent a total of PLN 355m on purchases of debt with a nominal value of PLN 2.2bn. Following the announcement of KRUK’s winning an auction held by BZWBK in November 2014, the nominal value of secured debt purchased by the KRUK Group in 2014 will increase by at least PLN 1.2bn.
“This year, we have purchased two major portfolios of retail mortgage-backed debt, with which our assets under secured debt rose by PLN 1.2bn by nominal value. These assets open up new opportunities and contribute to the growth of the Company’s value. It is important to note that we have a strong interest in three particular types of debt portfolios: unsecured consumer debt, mortgage-backed debt, and corporate debt. In addition to diversification of our product range, we are also expanding our business into new geographical markets,” added Mr Krupa.