Polish investment fund and debt collector team up on the Romanian market for non-performing loans
Debt collector Kredyt Inkaso recently signed an agreement with Polish investment fund AgioFunds to work together in Romania, as well as on the broader Eastern and Central Europe markets. The fund will invest in non-performing loan portfolios, and Kredyt Inkaso will provide debt collection services. This will allow Polish investors to invest in non-performing loan portfolios on external markets.
Kredyt Inkaso, a Polish company, is already active on the Romanian market.
The first portfolios managed by Kredyt Inkaso in Romania on behalf of AgioFunds were bought from local BCR – Erste group, and are worth some €20 million.
The Polish firm currently manages portfolios worth some €177 million in Romania, a year from its entry on the market, according to Paweł Szewczyk, president of Kredyt Inkaso. The Romanian subsidiary hopes to bring 10 percent of the group’s revenues at the end of the 2013 – 2014 fiscal year.