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PPF, Home Credit agree on sale of Russian banking assets to group of investors

Kazakhstan’s Bank Home Credit, a subsidiary of Home Credit and Finance Bank, will also be sold to shareholders and selected top managers of PPF and Home Credit under the transaction

MOSCOW, May 17. /TASS/. The Czech PPF Group and Home Credit have agreed to sell banking assets and subsidiaries in Russia to a group of investors led by Ivan Tyryshkin, Home Credit said in a statement on Tuesday.

"PPF and Home Credit announce the signing of an agreement to sell their Russian banking assets and subsidiaries to a group of individual investors led by Ivan Tyryshkin," the statement said.

Moreover, Kazakhstan’s Bank Home Credit, a subsidiary of HCFB (Home Credit and Finance Bank), will be sold to shareholders and selected top managers of PPF and Home Credit under the transaction.

PPF Group operates in 25 countries, investing in multiple sectors, including financial services, telecommunications, media, biotechnology, real estate, and engineering. PPF Group’s reach spans from Europe to North America and across Asia. The group owns assets to the value of 40.3 bln euro and employs 80,000 people globally (as of June 30, 2021).

Founded in 1997, Home Credit Group, is a global consumer finance provider with operations in nine countries of Central and Eastern Europe, the Commonwealth of Independent States and Southeast, as well as India and China. The company headquartered in Prague, Czech Republic, offers non-collateralized, purpose-driven loans, cash loans and revolving lending products both online and in partnering retail shops. It drives and broadens financial inclusion for unbanked populations and encourages economic development through supporting domestic consumption.

HCFB specializes on providing retail services in Russia and Kazakhstan. Its client base includes over 36 mln people, with products of the bank presented in more than 100,000 outlets.

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