Idea Bank wants to finalize the sale of GetBack in the second quarter. Thanks transaction will strengthen the capital – Onet.pl

 
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  Idea Bank
 
 
 

“The positive impact of this transaction on the consolidated estimated at 380-400 million zł, while at the same bank about 550 million zł. This transaction will strengthen the capital base of the group. We believe that in the current situation, our capital should be strong. Our capital ratios will increase by about 20 percent. “- Said Wednesday Augustyniak.

” This transaction will allow the reduction financing costs by 25-30 million zł per year. We count, that in 2-3 months the transaction is closed, “- he added.

President announced that proceeds from the sale of shares will also allow for partial repayment of the bonds issued to finance the purchase GetBack.

President did not rule out the use of these funds for possible acquisitions, including foreign companies.

“at the moment not we have an eye on larger targets, but all the time we look, “- said Augustyniak.

In last year’s prospectus the bank announced that it plans to pay dividends for the years 2014-16, bid, medium term wants to pay a dividend of 50 per cent. profit. The CEO said that the sale of GetBack not change the dividend policy.

“We stick to our findings of the non-payment dividends “- said Augustyniak.

Idea Bank Group acquired GetBack in July 2014. for 270 million zł. On Tuesday, the Bank announced that the sale of this company was signed with Emest Investements representing private equity funds. The transaction value is 825 million zł.

This amount will be paid by the buyer or a one-off, the date of transfer of ownership action, or in two tranches. The payment schedule provides for the payment of tranches of 60 per cent. price on the transfer of ownership of shares and the remaining 40 percent. within 18 months from the date of transfer.

The agreement is conditional, and its performance is dependent on m. al. from the consent of the OCCP.

GetBack is engaged in the purchase and collection of receivables portfolios, coming mainly from banks and telecommunications companies. These revenues account for 60 percent. all revenues. The remaining 40 percent. are revenues from the management of external debt portfolio.

In the period from 30 June 2014. 31 December 2015., the value of the portfolios managed by GetBack increased from 2.2 billion to 13.3 billion zł zł. The number of securitization funds management increased from 2 to 9. Monthly recoveries from their own portfolios increased from 4.3 million to 10.3 million zł zł.

In 2015. the company’s revenues amounted to 219.8 mln zł and were 103 percent. higher than a year earlier. While net profit amounted to 120.3 mln zł and was 172 percent. higher than in 2014.