PRA Group, Inc. Overview
Pro stress-test →PRA Group is a global leader in the nonperforming loan industry, committed to collaborating with customers to help them resolve their debt. PRA Group went public on November 8, 2002, and has since grown to become one of the largest purchasers of nonperforming loans in the world. Through its subsidiaries, PRA Group returns essential capital to banks and other lenders, helping expand financial services available to consumers and businesses.
Strategic Profile
Pro stress-test →Under new CEO Martin Sjolund, the company is focusing on operational efficiency and technological advancements, implementing its PRA 3.0 strategy to enhance its position as a technology-driven global capital allocator. Its portfolio operations span 18 countries, 12 languages and 12 currencies.
Competitive Landscape
Pro stress-test →PRA Group operates in the nonperforming loan acquisition and collection space, purchasing accounts that are primarily unpaid obligations owed to credit originators, including accounts that original lenders have not pursued or been unsuccessful in collecting. The company competes with other debt buyers and servicers in a cyclical, regulatory-sensitive industry.
Industry Context
PRA Group, Inc. operates in Financial Services - Credit Services / Debt Collection.
Key facts
Founded: 1996 · Headquarters: Norfolk, Virginia, US · Employees: ~2,200-3,000 · Revenue: $1.1B · Market cap: $494-642M