PRA Group says is on track to achieve operational targets for FY24

The company said, “The Company is on track to achieve the following financial and operational targets for FY24: Strong portfolio investment levels; Double-digit cash collections growth; ~60% cash efficiency ratio; 8%+ return on average tangible equity, up from 6%-8% previously. In addition, the Company announces the following financial and operational targets for full year 2025: Portfolio investment levels to exceed $1.0B; Cash collections growth of 8%-10%; 60%+ cash efficiency ratio; Double-digit return on average tangible equity.”