Kredyt Inkaso SA CG doubles the profit!

33 mil zloty net profit and net revenues of 87 mil zloty. Kredyt Inkaso SA Capital Group concluded the financial year 2013/2014 with success. The company is growing to be the industry tiger, thanks to its expansion to the new foreign markets - Romanian, Russian and Bulgarian.


In the past financial year, the company Kredyt Inkaso reached the net revenue of 86.855 thousand zloty, which is 25,5% higher than the revenue in the analogous period of the previous year. On the other hand, the net profit was higher by 91,4% (33,374 thousand zloty) in relation to the result generated by the company in 2012/2013 (17.197 thousand zloty). This is yet another financial record in the thirteen years of the company's operations.
Expansion in Romania
Such good result is the effect of conclusion of optimization processes within the organization and the growth of a portfolio on the Romanian market, the nominal value of which amounts to 850 mil zloty. In Romania the company also provides third party collection services for the benefit of the consortium of investment banks, which purchased a mortgage collateralized corporate portfolio. Its value is nearly 1,4 billion zloty. Kredyt Inkaso also concluded a framework agreement on cooperation with Unicredit Consumer Finance for recovery of receivables on the Romanian market.
„In the past year our driving force was Romania. When investing on this market we made sure that the business risk was on a moderate level and the investors generated above the average profits. We have succeeded. In 2014/2015 we are planning to direct more funds to Russia and to concentrate on the third partly collection, mainly for banks" - informed Paweł Szewczyk, President of the Management Board of Kredyt Inkaso SA.
Time for Bulgaria and Russia
Kredyt Inkaso is still in possession of two other portfolios of foreign receivables worth another 115 mil zloty - Russian and Bulgarian. The Company intends to keep on investing in Bulgaria. The long term agreement , „framework agreement" has already been concluded on this market. Purchases of further portfolios of receivables are also planned.
In Poland third party collection
On the domestic market, in the financial year 2013/2014 Kredyt Inkaso purchased a portfolio of receivables from ING Bank Śląski SA of the nominal value of c.a. 293 mil zloty. Additionally, collaboration with AgioFunds Towarzystwo Funduszy Inwestycyjnych SA was initiated, for which the company invested funds in the amount of c.a. 40 mil zloty.
The agreement includes performance of third party collection. The company will be aiming at this type of services also in the next financial year. They are addressed to creditors, both primary (banks, insurance companies, telecom companies) and secondary (investment funds). In the overall collection process the company is aiming at being amicable and conciliatory. The Company's experience prove that such strategy of collection of receivables brings mutual benefits : it helps creditors recover debt and at the same time allows to maintain good relations with their clients-debtors.
Debtors may benefit from arranging their debt into convenient installment payments and in the case of timely repayments even have part of their debt cancelled.
For the financial year 2014/2015, Kredyt Inkaso SA is planning investments at the level of 100 mil zloty. A significant part of it will go to Romania as, in the opinion of the company, it is the market with the biggest potential in the Mid-Eastern Europe.