As announced in a current report released today, KRUK has won a secured and unsecured corporate debt sale auction held by Unicredit S.p.A. of Milan. The nominal value of the auctioned debt portfolio is about PLN 1bn (~EUR 220m).
"Our results reflect the growing efficiency of our operating processes and confirm our position and growing appetite in the core unsecured retail debt segment. At the same time, we are entering the new year well prepared to continue our growth also in the area of corporate and secured debt," comments Tomasz Kurr, General Director of KRUK Italy. “The corporate debt team, led by a manager with over 20 years’ experience and proven two-year track record at KRUK, has demonstrated with the recent transaction that we are ready to increase our investment in corporate debt assets. My ambition and that of the entire team of KRUK Italy is for the company to become a leading player on the Italian debt market," concludes Tomasz Kurr.
In Italy, KRUK invested in a retail debt portfolio for the first time in 2015 and purchased its first corporate debt portfolio in 2019.
“When we bought our first corporate debt portfolio in Italy two years ago, apart from expected returns, we were also driven by the wish to improve our expertise in this area. Today we can boast an experienced and well-organised team dedicated to handling corporate debt," comments Piotr Krupa, CEO and President of the Management Board of KRUK S.A. “In 2021, not only did we resume investing in Italy, but have also significantly increased the size of our debt portfolio. Though 2021, which is very likely to be a record year for KRUK, is not over yet, we are already working hard on investments to be made in 2022," concludes Piotr Krupa.
Complete data on the investments and recoveries for the fourth quarter of 2021 will be published by the KRUK Group by January 10th 2022.