Kredyt Inkaso S.A. purchased the first debt package in Rumania.

On 31 January, a company from Kredyt Inkaso S.A. Capital Group - Kredyt Inkaso Portfolio Investments (Luxembourg) S.A. with its registered office in Luxembourg concluded the agreement on consumer receivables package purchase from Piraeus Bank Romania with its registered office in Bucharest operating on the Rumanian market.

The total nominal value of the purchased package amounts to RON 57.561 million (after translation, approximately PLN 55 million).

Purchase of the debt portfolio from Pierus Banku opens our operations on a foreign market. Starting from the IVth quarter of 2012, we began building our structures on Rumanian and Bulgarian markets that have been already prepared for conducting operating activities and service of debt packages purchased by us. We estimate that the nominal value of sub-standard, consumer receivables offered for sale in Rumania amounts to about PLN 2 billion annually, on the other hand, we estimate that the volume of the market in Bulgaria equals approximately PLN 1.2-1.3 billion of the nominal value - says PaweĊ‚ Szewczyk, the President of Kredyt inkaso S.A. Management Board.

From our point of view, both those markets are considerably less competitive than the market in Poland. It is true that there is one significant entity on the Rumanian market; however, I am sure that there will be the place for both us and the competition. As far as Bulgaria is concerned, as a matter of fact, there is no competition on this market and to a large extent, we will create the market there. We believe that we will offer our business partners new solutions in the scope of debt management, limited not only to banking receivables, which will allow us to gain a significant share in the market over a short time. - adds Mr. Szewczyk.