PRA Group, Inc. reported net income attributable to PRA Group, Inc. of $18.456 million for the fourth quarter of 2024, a substantial increase from a net loss of $(8.782) million in Q4 2023. For the full year 2024, net income attributable to PRA Group, Inc. reached $70.601 million, compared to a net loss of $(83.477) million in 2023.
The company achieved record portfolio purchases of $1.4 billion for the full year 2024, representing a 22% increase year-over-year. Cash collections also saw significant growth, rising 13% year-over-year to $1.9 billion for the full year.
PRA Group updated its financial targets for 2025, raising its portfolio purchases target to $1.2 billion. The company also noted that it exercised its right to sell its equity interest in RCB Investimentos S.A., the servicing company for its nonperforming loans in Brazil, and expects an estimated $38 million pre-tax gain from this transaction in Q2 2025.
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