KRUK wins auction to purchase large debt portfolio in Poland
The KRUK Group has won an auction to purchase a major portfolio of unsecured retail debt with a nominal value of close to PLN 420m from Getin Noble Bank S.A.
“This is KRUK’s largest transaction in Poland this year and one of the largest made in recent years. Our win in this important auction is a remarkable success, particularly in the context of the growing competition seen in recent months. Although we are present in seven countries across Europe, our home market is still very important to us, not only because of the number of accounts but also because of new investment opportunities. We participate in every debt auction in Poland in pursuit of leadership on the home market, and aspire to become a top player in Europe,” said Piotr Krupa, President of KRUK S.A.
In the first half of 2017, KRUK invested an aggregate of PLN 506m, including approximately PLN 45m in Poland. The largest expenditure, of almost PLN 240m, was made in Italy. Information on debt purchases made in the third quarter of 2017 will be released by the Company on October 10th.