08/01/2016
Current Report No. 2/2016: Expenditure and recoveries on debt portfolios purchased by the KRUK Group
In connection with the disclosure policy launched and described in Current Report No. 39/2012 of October 10th 2012 and Current Report No. 13/2015 of April 10th 2015, the Management Board of KRUK S.A. (the “Company”, the “Issuer”) announces that on July 8th 2016 it passed a resolution specifying the nominal value of debt portfolios purchased, and expenditure incurred by the KRUK Group companies, as well as recoveries on purchased debt portfolios collected by the KRUK Group in Q4 2015.
Expenditure on debt portfolios
According to the above resolution, the total expenditure incurred by the KRUK Group to purchase debt portfolios in Poland and abroad in Q4 2015 amounted to PLN 198m, while the nominal value of the debt purchased by the KRUK Group in the period amounted to PLN 2,02bn. In comparison, the total expenditure on debt portfolios purchased by the Group in Poland and abroad in Q4 2014 was PLN 216,5m, with the nominal value of the debt amounting to PLN 1,58bn.
The total expenditure incurred by the KRUK Group to purchase debt portfolios in Y 2015 was PLN 489m, while the nominal value of the debt purchased by the Group in the period amounted to PLN 4,93bn. Amount invested in 2015 does not include the transaction with Presco Investments Limited which amounts to PLN 216,8m. Issuer informed about this transaction in Current Report No. 91/2015 of December 23th 2015. In comparison, the total expenditure incurred by the Group to purchase debt portfolios in Poland and abroad in Y 2014 amounted to PLN 571m, with the nominal value of the purchased debt totalling PLN 3,78bn., of which PLN 230m was incurred on a mortgage-backed debt portfolio with a nominal value of PLN 699m (for details see Current Report No. 10/2014 of March 31st 2014).
Recoveries on purchased debt portfolios
Total recoveries collected in Q4 2015 on debt portfolios purchased by the KRUK Group in Poland and abroad amounted to PLN 220m. In comparison, total recoveries collected in Q4 2014 on debt portfolios purchased by the KRUK Group in Poland and abroad amounted to PLN 183,5m.
Total recoveries collected in Y 2015 on debt portfolios purchased by the KRUK Group in Poland and abroad amounted to PLN 825m. In comparison, total recoveries collected in Y 2014 on debt portfolios purchased by the KRUK Group in Poland and abroad amounted to PLN 712m.
The Company further announces that details concerning the financial results achieved by the Company and the KRUK Group in the year of 2015 will be given in the consolidated interim report for Y 2015.
Detailed legal basis: Par. 5.1.25 of the Regulation of the Minister of Finance of February 19th 2009 on current and periodic information to be published by issuers of securities […].