PRA GROUP INC

# PRA Group Inc (PRAA)

PRA Group is a financial services company that purchases and manages portfolios of nonperforming loans on behalf of credit originators worldwide. The company acquires accounts representing unpaid consumer obligations that originators have determined are uncollectable or not cost-effective to pursue in-house. Its loan portfolios span general purpose and private label credit cards, consumer loans, auto loans, overdrafts, and small business loans. The company also handles nonperforming loans involving borrowers in bankruptcy proceedings and provides fee-based services related to class action claims recoveries.

Operating primarily as a debt purchaser and collection agent, PRA Group generates revenue through the acquisition and subsequent collection of defaulted consumer debt. The company maintains a global presence, conducting business across multiple geographic markets as it sources and manages loan portfolios from various credit originators. Based in Norfolk, Virginia, the company operates with approximately 2,814 full-time employees and maintains a market capitalization of $0.4 billion. PRA Group was incorporated in Delaware and is listed on the Nasdaq under the ticker PRAA. The company was originally founded in 1996 as Portfolio Recovery Associates, Inc. before adopting its current name in October 2014.