On February 23rd 2023, KRUK announced that it had won an auction in Italy to purchase unsecured debt portfolios with a nominal value of approximately EUR 133m (PLN 632.3m, translated at the average exchange rate quoted by the National Bank of Poland for February 22nd 2023) and unsecured debt to be purchased in tranches starting from June 2023 with a total nominal value of up to EUR 55m (PLN 261.5m, translated at the average exchange rate quoted by the National Bank of Poland for February 22nd 2023).
“2022 was a very successful year for us in terms of debt purchase transactions, and today’s announcement is a continuation of our investment policy based on KRUK’s increasingly efficient operational processes in Italy,” commented Piotr Krupa, CEO of KRUK S.A. “Last year we invested a total of PLN 2.3bn in debt portfolios with a nominal value of nearly PLN 14bn. Our market share outside Poland, especially in Italy and Spain, is growing. For KRUK, the opportunity to expand the portfolio by another 894 million złotys is crucial not only for the development of a market of importance to us, but also for scaling up the Group’s international business. At the same time, we are working on technological development across our entire organisation, placing a strong focus on IT solutions both for our customers, that is people in debt, and for our internal operational processes.
Full figures on investments and recoveries for the first quarter of 2023 will be published by April 10th 2023.
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