Kredyt Inkaso signed an agreement with ING Bank Śląski, under which it increased the available credit line limit to PLN 200 million. The funds obtained in this way will be used for new investments, i.e. the purchase of debt portfolios.
On 3 August 2022, two subsidiaries belonging to Kredyt Inkaso (Kredyt Inkaso I Niestandaryzowany Sekurytyzacyjny Fundusz Inwestycyjny Zamknięty and Kredyt Inkaso II Niestandaryzowany Sekurytyzacyjny Fundusz Inwestycyjny Zamknięty) signed an agreement with ING Bank Śląski increasing the credit line limit by PLN 60 million. Accordingly, the total amount of funds available to both entities reached PLN 200 million. The Group will use this amount to finance new investments in the form of purchase of debt portfolios. The signed agreement is an extension of cooperation with ING Bank Śląski under the agreement on establishing a credit line of May 2018.
The agreement increasing the limit is part of a broader plan, and aims to significantly expand the scale of investments carried out by Kredyt Inkaso. It also provides further evidence of the organisation’s sound financial foundations. Following a successful debt refinancing operation in April this year, totalling 159 million, Kredyt Inkaso also boasted very good financial results in the financial year 2021/22. In the report published on 30 June this year, Kredyt Inkaso Group recorded a record-breaking level of repayments from debt portfolios, amounting to PLN 279 million (an increase of 25% compared to the previous year). This result translated into the achievement of revenues at the level of PLN 198.1 million and the generation of a net profit of PLN 31.5 million. Cash EBITDA amounted to PLN 162.1 million, and this is 34% better than in the same period of the previous year. In the last six months, Kredyt Inkaso also conducted two issues of bonds addressed to individual investors (series I1 and L1), thanks to which it acquired a total of PLN 32.7 million.
About Kredyt Inkaso
Kredyt Inkaso was established in 2001 as a pioneer on the Polish market of debt management. Ever since, it has been constantly supporting companies and entrepreneurs in the recovery process, cooperating with banks, lenders, insurers and other entities from the consumer market. Kredyt Inkaso offers a wide range of services: from payment monitoring, through amicable collection, to court and enforcement processes.
Since 2007, Kredyt Inkaso has been present on the Warsaw Stock Exchange, and in 2018 it conducted the first public issue of bonds. In its activity, the Company follows the principle that the process of debt collection should be as easy and intelligent as possible, but first of all, it should be ethical – which is confirmed by Ethical Audit Certificates awarded annually by the Association of Financial Enterprises in Poland. The Company also pays attention to the issues related to corporate social responsibility and therefore is involved in educational or pro-social undertakings, among others.
