December 27 (SeeNews) - Italian lender UniCredit said on Monday that through its Romanian subsidiary UniCredit Consumer Financing IFN, it has reached an agreement to sell a 240 million lei ($55 million/48.5 million euro) portfolio of non-performing loans to KRUK Group.
The debt portfolios composed by unsecured consumer loans will be purchased in 24 monthly tranches, UniCredit said in a press release.
UniCredit signed the purchase agreement with InvestCapital LTD of Malta, part of KRUK Group.
Polish debt collection company KRUK announced the deal on Friday in a separate press release, adding that it plans to increase investments in Romania in next two years.
"The forward flow agreement we have just signed will provide us with a continuous inflow of unsecured consumer debts over the next two years in our key market," KRUK CEO and president of the management board Piotr Krupa said in the press release. "2021 offers prospects of new records for KRUK, with the new agreement with UniCredit bound to drive our investments in 2022 and 2023. I am very pleased with our investments this year, and the present transaction makes our prospects for the future look even better," he added.
KRUK is a Polish debt collection company, purchasing and servicing debt portfolios in Poland, Romania, Czech Republic, Slovakia, Germany, Italy, and Spain.
UniCredit Consumer Financing is a provider of consumer financing and financial services part of UniCredit Bank Romania, he local arm of Italian financial group UniCredit.
(1 euro = 4.9492 Romanian lei)
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