PRA Group, Inc. (NASDAQ:PRAA) Q1 2024 Earnings Call Transcript

Vik Atal: The question of Europe has come up a couple of times. Look, that market is very fragmented. You’ve got regional players, local players and they always provide stiff competition for us. So with respect to the market, we continue to remain disciplined. The diversification across the 13 countries that we’re in is a significant differentiator in our view. And the other thing around just supply, one data point that we look at also is just some Level 2 loans that are sitting on the balance sheet of banks or Stage 2 loans that are sitting on the balance sheet of the banks, and they’re double of what they were from a pre-pandemic level. And so that gives us some confidence that at some point, there should be greater supply coming to market. But it’s just hard to predict because it’s more of a spot market as we’ve said.

Robert Dodd: Got it. Thank you.

Operator: Thank you. This concludes our question-and-answer session. I’d like to turn the conference back to President and CEO, Vik Atal, for closing remarks.

Vik Atal: Thank you everybody for supporting us and looking forward to our continued conversation through the balance of this year. Thank you again.

Operator: That concludes our conference for today. Thank you all for participating. You may all disconnect.