Polish debt recovery specialist Kruk has reached an agreement to take over a portfolio of non-performing loans worth RON 240 mln (EUR 48.5 mln) at face value from UniCredit Consumer Finance Romania.

The NPL market in Romania thrived in 2014-2019 as the banks were cleaning their balance sheets, but it naturally declined to reach a standstill during the debt repayment moratorium in 2020.

The portfolio sold by UniCredit’s consumer finance arm to Kruk includes retail loans with no guarantees attached. The receivables will be purchased in 24 monthly instalments. The terms of the agreement were not disclosed, but the parties disclosed that they “do not differ from those commonly used in this type of agreement.” The discounts can go in such cases up to 90%.

Kruk Group has been active on the Romanian market since 2007. It is one of the biggest players in the debt recovery market, with offices in Bucharest and Targoviste and 600 employees. The group is the largest debt management company in Poland and a market leader in Central and Eastern Europe, with foreign operations in Romania, the Czech Republic, Slovakia, Germany, Italy and Spain. 

editor@romania-insider.com

(Photo source: Dreamstime.com)