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Corporate governance

Home Credit Group has developed a set of corporate governance principles in accordance with high international standards, allowing effective management and control of the Group and it's subsidiaries with the aim to create value for shareholders, investors and other stakeholders, and to protect their interests.

Management of the Group

Home Credit Group management comprises the Board of Directors and the Group Executive Committee.

The Board of Directors meets regularly on a quarterly basis. Additional meetings are held as necessary.

The management team overseas the commercial business affairs of the Group and the operating activities of its subsidiaries. The centralisation of certain key business functions helps to increase the efficiency of Home Credit's operations, and facilitates the sharing of knowledge and expertise in Home Credit's markets.

For more detailed information on Home Credit Group's management, please refer to the Management section of the website.

For a scheme showing Home Credit Group within the PPF Group Corporate Governance Framework please refer to the Investment message section of the website.

Management of the Group's subsidiaries

Day to day management of the Group subsidiaries is the responsibility of each Country Manager, who subsequently report into the Group CEO. Daily operational and functional activities are the responsibility of the Group executives who are, in turn, supported by the Group's centralised team of managers and experts. The centralised structure, which also embraces risk management, finance and IT, helps to maximise cost controls, efficiencies and performance across the entire Group.

Home Credit Group has developed and operates a fully centralized IT platform located in Brno and Ostrava in the Czech Republic. This facility is currently the largest centralized banking operation in Eastern Europe and represents a key competitive advantage for Home Credit. Offering scalability and flexibility, the centralized IT platform allows for significant cost savings and best practice sharing between country teams as well as enabling strong centralized risk management and control processes.

Group structure

For a detailed explanation of the Home Credit Group's structure, please refer to the Structure section of the website.

Legal and regulation

As a holding company, Home Credit B.V. ("HCBV") does not require a banking licence for its activities. HCBV complies with all legal requirements and maintains good working relationships with the relevant Dutch regulatory bodies. Most of the local Home Credit entities hold banking licenses and therefore are subject to the regulatory reporting of the local respective central banks and/or financial market regulators.

Articles of Association of Home Credit B.V.

Articles of Association are the main documents regulating the corporate existence of Home Credit B.V. The Articles clearly state the internal organisation of the company and the roles of its internal bodies. The current wording of the Articles of Association of Home Credit B.V. is available to download:

HCBV (NL): Home Credit B.V. Articles of Association (as of 15 May 2007) (1,744 kB)

Auditors

Home Credit Group's operations are subject to financial audit by KPMG in all countries where Home Credit Group operates its business.