NORFOLK, Va., June 26, 2015 (GLOBE NEWSWIRE) -- PRA Group (Nasdaq:PRAA), a global leader in acquiring non-performing loans, today announced that Kevin Stevenson was named a finalist in the 2015 Virginia CFO Awards.
Stevenson, PRA Group's executive vice president, chief financial and administrative officer, treasurer and assistant secretary, was chosen as a finalist from a field of 45 nominees, and was one of five in the "publicly traded company" category. He was recognized for his leadership in growing PRA from a startup company with four employees to become the largest public debt buyer in the world with market capitalization of approximately $3 billion. He has been intimately involved in strategic corporate acquisitions throughout the company's history and most recently led PRA's financing functions through the $1.3 billion acquisition of Norway-based Aktiv Kapital, which expanded the company into 13 new international markets and increased its estimated remaining collections to $4.7 billion worldwide.
Since its IPO in 2002, PRA has achieved increases in net income from $11 million to $177 million, cash receipts from $81 million to $1.4 billion, and revenues from $56 million to $881 million. In recognition of this continued growth and performance, PRA has been named one of Fortune's 100 Fastest-Growing Companies for the past three years and one of Forbes' Best Small Companies in America for eight consecutive years since 2007.
The Virginia CFO Awards, presented by Virginia Business magazine, honor chief financial officers whose ingenuity and dedication have contributed to their companies' growth and profitability. The CFO Awards ceremony was held on June 23 at the Jefferson Hotel in Richmond, Virginia.
About PRA Group
As a global leader in acquiring non-performing loans, PRA Group (Nasdaq:PRAA) returns capital to global banks and other creditors to help expand financial services for consumers in North America and Europe. PRA Group companies collaborate with customers to help them resolve their debt and provide a broad range of additional revenue and recovery services to business and government clients.
PRA has been recognized as one of Fortune's 100 Fastest-Growing Companies for the past three years and one of Forbes' Best Small Companies in America for eight consecutive years since 2007. For more information, please visit www.pragroup.com.
CONTACT: Media Contact: Nancy Porter Vice President, Corporate Communications (757) 431-7950 NAPorter@PRAGroup.com