Debt collectors Kruk International recover almost 12m euros in first year

Kruk International, local subsidiary of Polish debt collection group Kruk, recovered over 44 million RON (nearly 12 million euros) in its first year in business in Romania, with the value of contracts handled amounting to 300 million RON (around 80 million euros). Having entered the Romanian market last year, Kruk International currently has 30 clients in its portfolio, which include banking institutions, telecom companies and insurance companies. The company specialises in commercial debt collection, with the value of contracts handled so far exceeding 300 million RON. "Romania has a big potential as far as debt collection companies are concerned. Although many important debt collection companies were already present on the Romanian market when we opened our local subsidiary, the economy's growth rate and the flow of new credits indicates that debt collection is a growing industry in Romania," Piotr Krupa, chairman of the Krup group, told ZF. The company started out with amicable debt collection services (via letters of notification and phone calls), while now it also collects debt in court and uses the services of private detectives.