PRA Group, Inc. (PRAA), founded in 1996, is a global leader in acquiring and collecting nonperforming loans. Based in Norfolk, Virginia, PRA Group operates in the Americas and Europe, with over 4,600 employees in 13 countries. The company’s main businesses include Portfolio Investment and Debt Collection.
In the Portfolio Investment sector, PRA Group is involved in the purchasing of nonperforming loans, including those from the consumer and auto segments, from banks and other creditors for less than their face value. Once these loans are purchased, PRA Group’s debt recovery segment gets into play.
This Debt Collection business, the fulcrum of PRA Group’s operations, is targeted towards the management and collection of portfolios of nonperforming loans. They employ some combination of proprietary data analytics, account segmentation and a multitude of payment solutions to maximize their account recoveries.
It’s noteworthy that PRAA distinguishes itself in this sector with their ethical standards and commitment to treating people fairly and with respect, something that’s not always associated with debt collection companies. They pride themselves on their compliance-driven behavior and a team that embodies the corporate value of "doing the right thing".
PRA Group, Inc. is publicly traded on the NASDAQ stock exchange under the ticker symbol "PRAA", and has managed over the course of its history to generate consistent returns on invested capital.
The company has a strong track record of compliance, which is key in the highly regulated market in which it operates. Success, for PRA Group, stems from its strategic vision, experienced management, proven process and approach to compliance and respect for consumers.
It’s interesting to note that PRA Group also operates a charitable arm, the PRA Group Employee-funded Assistance and Relief Charity (PRA Group EARC), which supports employees dealing with unexpected and unavoidable financial hardship.
In conclusion, PRA Group, with its impressive footprint across continents and its operations driven by ethical adherence, stands strong as a leader in the non-performing loans collection business.