Home Credit B.V., a consumer lending specialist, expects 2009 net profit to rise despite turbulent markets

01/22/2010 - Home Credit B.V. (‘HCBV’ or ‘Home Credit Group’), the Netherlands based holding company that operates consumer finance specialists in six CEE / CIS countries, announces its preliminary, unaudited results expected for FY2009 (IFRS).

'Given the market focus on the financial services industry, and in particular, on how consumer lending businesses have performed in the global market downturn, Home Credit has decided to announce its preliminary unaudited results for 2009. Home Credit management has released this information to assure all stakeholders of the company's solid performance ahead of the completion of the audit.
I am glad to announce that HCBV expects FY2009 consolidated net profit to amount to EUR 48 million. This demonstrates Home Credit Group´s ability to efficiently manage its business in turbulent times. Compared to 2008 net profit of EUR 46 million, HCBV will increase value for shareholders even though the gross loan book declined to EUR 1,994 million as of 31 December 2009 from EUR 2,894 million as of 31 December 2008. I am delighted to announce that our operations in Russia (2009 net profit is expected to be RUB 5 billion) made a particular contribution to this positive result.

Full disclosure of Home Credit Group´s financials will be made only after the audit is completed in March 2010.'

Alexander Labak
Chief Executive Officer

Home Credit Group

More information at:

www.homecredit.net

For further information, please contact:

Press Inquiries:

Milan Tománek

Head of PPF Group Communications

E-mail: tomanek@ppf.cz

Tel: +420 224 174 066

Pavlína Štrofová

Investor Relations Specialist

E-mail: strofova@ppf.cz

Tel: +420 224 174 265

 

Notes to Editors:

Home Credit B.V. (“Home Credit Group”) is a holding company operating through its subsidiaries in CEE and CIS consumer finance markets. During 2008 the Home Credit Group had granted loans in the combined principal of EUR 3.6 billion. Home Credit Group companies operate in consumer finance markets of the Central and Eastern Europe as well as Central Asia and the Far East. The Home Credit Group maintains one of the 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), Ukraine (OJSC Home Credit Bank since 2006) and Belarus (OJSC Home Credit Bank since 2007).

Home Credit Group is a member of PPF Group, established in 1991, which is a leading international investment group. PPF Group focuses on financial services (banking and consumer finance, insurance and pensions), private equity investments, and investments in real property. PPF Group also actively seeks investment opportunities and undertakes strategic investments in emerging markets of the Central and Eastern Europe and Asia. During its 18 years in business, PPF Group has become an important international financial investor, managing assets of EUR 10.1 billion as of 30 June 2009.