Best collector debt portfolio value reaches PLN 1.66 bln

WSE-listed debt collector Best debt portfolio’s nominal value amounted to PLN 1.669 billion in Q1-Q3 2017, which is a 61 percent y/y increase. In Q3 alone, the company bought PLN 702.5 million worth of debt alone, the company said in a market filing. Moreover, in Q3, recoveries increased by 36 percent y/y to PLN 77.9 million. "Both operational data and financial results from the recent quarters reflect the dynamic growth of the company. Since the beginning of 2017, we have seen a significant increase in debt portfolios, which has undoubtedly contributed to the investment and good economic situation,” the company CEO Krzysztof Borusowski said. Best also added that it has suffered a rise in legal execution costs due to the changes in Polish law which forced acceleration of cases ahead of their legal expiration from PLN 15.7 million to PLN 20 million for the Q1-Q3 period.