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January 23, 2021
ECONOMY

Kruk Group: Banks, others, sell or outsource accounts receivable worth 3.1 bn euro in 2016

Receivables sold or outsourced for collection by banks and other entities on the Romanian market totaled 3.1 billion euro in 2016, compared to 2.01 billion euro in 2015, show estimates by Kruk Group, the largest receivables management company in Central and Eastern Europe.

The nominal value of debt assignments was 2.06 billion euros last year as to 1.02 billion euros in 2015, and the nominal value of receivables outsourced for collection was 1.04 billion euro as to 0.97 billion euro in 2015.

“The high amount of the portfolios on the Romanian market was due, among others, to the largest deal performed on the dedicated market, whereby Kruk Group and WB member International Finance Corporation jointly purchased from Eurobank Group a portfolio of receivables with a nominal value of 600 million euro. In 2016 Kruk Group’s investments in debt assignment portfolios in Romania reached 87.9 million euro (most of them in retail portfolios) compared to 36.6 million euro in 2015. Investments in 2016 took the Group’s share of the portfolio purchase market to 35 pct, compared with a share of 37 pct in the previous year,” said Kruk Romania CEO Tomasz Ignaczak.

In 2016 Kruk Group accepted for collection in Romania outsourced portfolios worth a nominal 81.9 million euro, compared with 83.52 million euro in 2015.

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