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BEST GROUP RECORDS HIGH REPAYMENTS IN Q2 2020

Repayments of claims due to BEST Capital Group in the second quarter of 2020 amounted to PLN 86.6 million, up by 33% compared to the previous year. Throughout the half-year, repayments due to BEST exceeded PLN 164 million. Expecting a stabilisation of the market situation in connection with the COVID-19 epidemic, during this period, the Group invested only PLN 1.5 million in new claim portfolios with a nominal value of PLN 8.4 million, and no new investments were made in the second quarter.

 

Total repayments from claims after the first half of this year amounted to nearly PLN 182.5 million compared to PLN 141.3 million a year earlier, while total repayments due to BEST Group after the first half of the year amounted to PLN 164.4 million compared to PLN 123.5 million a year earlier. – The COVID-19 pandemic is an unprecedented event. In the second quarter, the debt market froze for a moment, just like the entire economy. For obvious reasons, we did not make any new investments at that time. We had already adopted a very cautious approach to new purchases before that. We believe that, once the peak of the business cycle has been reached, the debt market will be reinvigorated in the autumn, especially as the banking sector starts reviewing non-performing loan portfolios – says Krzysztof Borusowski, President of the Management Board of BEST S.A.

 

– The high level of repayments in the second quarter and in the entire half-year testifies to BEST Group’s excellent preparation for operations under any circumstances. With a motivated remote team and a high level of process automation, we are able to efficiently process the claim portfolios in which we invested in previous years. We can clearly see the results of our efforts to improve efficiency. We are well-equipped to grow whenever there is an opportunity to make new purchases and work with new claim portfolios – adds Krzysztof Borusowski.

 

 

Repayments under claim portfolios and investments in new portfolios

(PLN million)

H1 2020

H1 2019

change YOY

Q2 2020

Q2 2019

change YOY

Repayments of portfolios held, including:

182.5

141.3

29%

96.0

74.4

29%

  due to BEST Capital Group

164.4

123.5

33%

86.6

65.1

33%

Nominal value of claim portfolios acquired

8.4

142.1

(94)%

-

142.1

-

Acquisition cost of new portfolios

1.5

18.4

(92)%

-

18.4

-

 

 

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