PPF and Home Credit have signed an agreement to sell their Russian banking assets and subsidiaries to a group of individual investors led by Ivan Tyryshkin. This is stated in the message of the parties.
As part of the transaction, Kazakhstan Home Credit Bank, a subsidiary of Home Credit and Finance Bank LLC (HCFB), will be sold to shareholders and selected top managers of PPF and Home Credit.
The transaction will be conducted in an orderly and structured manner to ensure business continuity for Home Credit employees and customers in Russia and Kazakhstan.
Currently, I. Tyryshkin heads the Board of Directors of the St. Petersburg Stock Exchange, and is also one of its largest shareholders.
PPF Group operates in 25 countries, investing in various sectors, including financial services, telecommunications, media, biotechnology, real estate and engineering. The scope of PPF Group's activities extends from Europe to North America and throughout Asia. The Group owns assets worth 40.3 billion euros and employs 80 thousand employees worldwide (June 30, 2021).
Founded in 1997, Home Credit Group is a global player in the consumer lending market, operating in nine countries of Central and Eastern Europe, the CIS and Southeast Asia, as well as in India and China. The company, headquartered in Prague, Czech Republic, offers targeted unsecured loans, cash loans and revolving credit products both online and in partner retail stores. The group's activities stimulate and expand the population's access to financial services and contribute to economic development by supporting domestic consumption.
Home Credit and Finance Bank LLC specializes in providing retail banking services in Russia and Kazakhstan. The bank's customer base is more than 36 million people. The bank's products are represented in more than 100 thousand points of sale.
