July 22 (SeeNews) - Bulgaria's Debt Collection Agency (DCA), part of Norway’s B2Holding group, said on Monday that its net profit rose 28% year-on-year to 7.9 million levs ($4.5 million/4.0 million euro) in 2018.
DCA's total revenue increased by about 35% on the year to 27.4 million levs, the company said in a statement.
DCA's assets exceeded 118 million levs at the end of last year, almost double compared to their value in 2017, mostly due to a deal with UniCredit Bulbank for the purchase of uncollected claims concluded last year.
In 2018, B2Holding said that its Bulgarian unit has signed an agreement with UniCredit Bulbank, the Bulgarian unit of Italy-based UniCredit Group, for the acquisition of a non-performing credit portfolio with a face value of 249 million euro.
After a strong 2018, DCA expects growth again, considering that the activity of the sector was very high in the first six months of 2019, the company said.
DCA has also appointed a new chief executive officer - Dimitar Bonchev, a former business development executive at DCA.
DCA started operating in Bulgaria in 2010 and was acquired by B2Holding in 2016.
(1 euro = 1.95583 levs)