The collection agency Kredyt Inkaso will come into possession of the mortgage debt portfolio worth 123 million zloty. There has been a positive decision of the bank BGZ on the assignment of receivables.

The Management Board of Kredyt Inkaso confirms that the subsidiary of the company, i.e. Kredyt Inkaso II Niestandaryzowany Fundusz Inwestycyjny Zamknięty, Subfund KI2 has made an agreement with Bank Gospodarstwa Żywościowego on the purchase of the mortgage debt portfolio with the value of 123 million zloty. This is one of the largest purchases of receivables made recently by Kredyt Inkaso, and the very first one of such scale within the area of mortgage debt. So far, BGŻ has passed a positive decision on the assignment of receivables but the conclusion of the relevant agreement is supposed to take place shortly.

The investment within the area of portfolios collateralized by a mortgage is yet another element of the strategy of the company's expansion on the collection market. The company is simultaneously developing its activities on foreign markets, purchasing portfolios, among others, in Romania, Bulgaria and Russia. Purchasing such significant mortgage debt portfolio is related to the opening of the banking sector in this area as regards the external debt collectors.

Mortgage debt. Good investment.

In the opinion of the Management Board of Kredyt Inkaso mortgage receivables are not only an interesting, but first of all, a very perspective market. For the longest time banks were refusing to sell the overdue mortgage debt, being the result of the 2007-2008 credit boom. However, currently they are more eager to look ahead into the direction of the collection market.

Kredyt Inkaso has been observing the market of mortgage debt for a long time. The direct support for the company's decision to purchase such significant portfolio collateralized by a mortgage was the positive outcome of the experiment carried on by Kradyt Inkaso on receivables with a much smaller value. The company investigated this area of debt very thoroughly by purchasing previously two small mortgage portfolios. Their collection showed an attractive scale of profitability of the mortgage market and became a prerequisite for further investments, this time at a much more serious scale.

The Company's decision on the purchase from BGŻ of the mortgage debt with the value of 123 mil zloty is also caused by experiences gained by Kredyt Inkaso from a liquidation of a mortgage in corporate portfolios, where housing apartments were acting also as a collateral.

Since the beginning of its activity, Kredyt Inkaso has been focused on the diversification of portfolios, searching for new, profitable investment areas. Same as in the case of purchasing foreign receivables, the company, first, tries to investigate the potential of a given area, investing in portfolios with the smaller nominal value. Only on the basis of the analysis of their profitability the decisions on more serious purchases are made.

distributed by