PPF and Home Credit are definitely leaving the Russian market

In previous months, Home Credit sold a majority stake of 50.5 percent to new shareholders of HCFB, and now the remaining 49.5 percent has also been sold, PPF added.

According to earlier information from PPF, the head of Russian investors is financier Ivan Tyryškin, who co-founded the Russian SPB stock exchange and invested in a number of important local fintech companies.

“The result of the transaction is the departure of PPF and the Home Credit Group from the Russian banking market. The transaction is in accordance with the regulatory conditions in force in the Russian Federation and was carried out in an orderly manner in order to ensure continuity for the employees and clients of HCFB Bank, which is consistently showing good economic results,” PPF said in a press statement.

PPF invests 6.5 billion crowns in Komárkova Allwyn

Economy

The PPF investment group does business in 25 countries. It invests in a range of industries, from financial services to telecommunications, media, biotechnology, real estate and engineering. The group operates in Europe, Asia and North America, has assets of €42.2 billion and employs 78,000 people worldwide.

In addition to Home Credit, the group includes the real estate group PPF Real Estate Holding, Air Bank, the telecommunications companies CETIN and O2, the media company Central European Media Enterprises (CME), the engineering company Škoda Transportation and the toll operator in the Czech Republic CzechToll.

Founded in 1997, Home Credit is a global consumer finance provider with operations in nine countries in Central and Eastern Europe, the Commonwealth of Independent States and Southeast Asia, as well as in India and China.

The article is in Czech

Czechia

Tags: PPF Home Credit leaving Russian market

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