10/10/2016
Current Report No. 93/2016: Expenditure on and recoveries from debt portfolios
In line with the adopted disclosure policy, KRUK S.A. (KRUK, the Company) announces that, in connection with the Company’s strategy to strengthen its position on the debt purchase market, the expenditure on debt portfolios purchased by the KRUK Group (the Group) in Q3 2016 grew by 189% year on year, to PLN 205m. The expenditure includes PLN 155m on the transaction executed in partnership with International Finance Corporation of Washington, D.C., USA (IFC), an entity of the World Bank Group.
The nominal value of debt purchased by the Group in Q3 2016 amounted to PLN 2bn.
The recoveries from the management of purchased portfolios grew in Q3 2016 to PLN 255m, that is by 24% year on year.
The aggregate expenditure on debt purchased by the Group in Q1−Q3 2016 was PLN 936m (with the nominal value of cases amounting to PLN 8.4bn), up 222% on the first three quarters of 2015. The recoveries from the management of purchased portfolios in Q1-Q3 2016 grew to PLN 701m, that is by 16% year on year.
The Company further announces that details of the financial results achieved by the Company and the KRUK Group in Q1−Q3 2016 will be provided in the interim consolidated report for Q3 2016, scheduled for publication on November 1st 2016.