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BEST Group sees improved efficiency and record levels of claim repayments in Q4 2019

The repayments of claims due to BEST Group in the fourth quarter of 2019 amounted to PLN 73 million, up by 18% compared to the same period of 2018, recording the best quarterly result in the Group’s history.

 

– For quite some time, we have been focusing on improving our operating efficiency and choosing optimal debt collection strategies. Our efforts have resulted in historic high repayments under the managed claims due to BEST Group in the final quarter of last year. This allowed us to end 2019 with a stable level of repayments despite downscaled investments in new portfolios – said Krzysztof Borusowski, President of the Management Board of BEST.

 

Cumulative repayments of claims due to BEST Group over the four quarters of 2019 amounted to nearly PLN 263 million, compared to less than PLN 261 million a year earlier.

 

Last year, BEST Group purchased non-performing debt portfolios with a total nominal value of PLN 342 million, for which it paid PLN 31 million. For comparison, a year earlier the Group invested PLN 81 million in claim portfolios with a nominal value of PLN 1.36 billion.

 

In the fourth quarter of 2019 alone, BEST Group spent PLN 12.2 million on the purchase of new portfolios, which is close to the amount invested in the same period in 2018 (PLN 12.5 million).

 

 

Repayments under claim portfolios acquired and investments in new portfolios

(PLN million)

Q4 2019

Q4 2018

change YOY

2019

2018

change YOY

Repayments of portfolios held, including:

82.4

70.7

16%

299.0

298.5

0%

   due to BEST Capital Group

73.1

61.9

18%

262.9

260.9

1%

Nominal value of claim portfolios acquired

111.0

156.0

(29%)

342.2

1,361.3

(75%)

Acquisition cost of new portfolios

12.2

12.5

(3%)

30.8

81.1

(62%)

 

 

 

 

 

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