Standard and Poor’s affirms Home Credit & Finance Bank ratings: B+/Stable/B
Moscow, 04/16/2008
Home Credit & Finance Bank ("HCFB" or "the Bank"), rated Moody's Ba3/NP/D-, S&P B+/B, and one of the leading banks specializing in consumer banking in Russia, announces that the international rating agency, Standard and Poor's, affirmed the Bank's ratings on 15 April 2008.In accordance with the ratings summary issued by Standard & Poor's on 15 April 2008 (following an annual review of HCFB in March), the international rating agency affirmed the Bank’s rating at B+/B level with stable outlook.
Among the positive factors identified by Standard and Poor's were: a supportive owner which has provided financial assistance and technical expertise; a sound capitalization, as well as adequate profitability and asset quality. In addition, HCFB benefits from Russia's good macroeconomic prospects which support high loan demand.
The detailed S&P Summary is available on www.ratingsdirect.com and can also be found at www.standardandpoors.ru
For further information, please visit:
www.homecredit.net
www.homecredit.ru
You may contact us on:
Markéta Mühlhoferová
Group Head of Investor Relations
E-mail: muhlhoferova@ppf.cz
tel: +420 224 559 174
Alena Zheltova
Deputy Head of Corporate Finance, HCFB
E-mail: alena.zheltova@homecredit.ru
tel: +7 495 514 1017
Press Inquiries:
Milan Tománek
Group Communication Manager
E-mail: milan.tomanek@homecredit.eu
tel: +420 224 559 573
Natalya Dokuchaeva
Head of Strategic Communications, HCFB
E-mail: press@homecredit.ru
tel: +7 495 514 1019
Notes to Editors:
Home Credit & Finance Bank (Moody’s Ba3/NP/D-, S&P B+/B) is one of the leading banks specializing in consumer banking in Russia with a 29% market share in the point-of-sale market and an 11% market share of the credit card market as at 31 December 2007.
HCFB offers its clients a wide range of credit products with variable credit terms. HCFB’s products are distributed through more than 29,000 POS outlets across over 1,200 cities throughout Russia. The bank’s regional network comprises 184 offices across the Russian Federation as at 31 December 2007.
Companies of the Home Credit Group operate in the Central and Eastern European, Central Asian and the Far East consumer finance markets and as at year-end 2006, had granted loans in the combined principal of USD 2.7 billion. Home Credit Group maintains leading positions in the consumer finance markets of the Czech Republic (Home Credit, since 1997), the Slovak Republic (Home Credit Slovakia, since 1999), the Russian Federation (Home Credit & Finance Bank, since 2002) and the Republic of Kazakhstan (Home Credit Kazakhstan, since December 2005). Home Credit Group also entered the Ukrainian and Belarusian markets in 2006 (CJSC Home Credit Bank, Home Credit Finance and OAO Home Credit Bank respectively) and China (Home Credit Asia, December 2007).
The Home Credit Group is part of the PPF Group, which was established in 1991 and has interests in insurance and consumer finance, and provides sophisticated asset management services. During its 17 years in business, PPF Group has become an important international financial investor, managing assets of over EUR 8.7 billion as of 30 June 2007.
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04/16/2008
