Home Credit & Finance Bank: Ivan Svitek appointed Chairman of the Board of Directors of the Home Credit & Finance Bank

With effect from 1 December 2009, Managing Director Ivan Svitek of the Home Credit & Finance Bank (“HCFB” or “the Bank”) in Russia will discharge the responsibilities of the Chairman of the Bank’s Board of Directors.

Ivan Svitek, Managing Director of the Home Credit & Finance Bank, has been appointed Chairman of the Bank’s Board of Directors. From 1 December 2009, Ivan Svitek will concurrently hold two positions, Managing Director and Chairman of the Board of Directors, and will be responsible for the strategy of the Bank’s development in Russia, as well as for the Bank’s operating activities and investment policies.

Since October 2008, the responsibilities of the Board Chairman have been carried out provisionally by Dmitry Mosolov, Vice Chairman of the Bank’s Board of Directors and Financial Markets Director, who has now become the First Vice Chairman of the Board of Directors and Deputy Managing Director.

Ivan Svitek has been Managing Director of the Home Credit & Finance Bank since September 2008. Under his leadership, the Bank has successfully continued its development strategy, taking measures to support business and its on-going growth in the crisis conditions. Thanks to the well-balanced work of Ivan Svitek’s team, the Bank has continued its transformation into a universal retail bank. It has been able to maintain its leading positions in the market and to remain effective in terms of the key parameters of banking activities.

Jiri Smejc, previous Chairman of the Home Credit & Finance Bank’s Board of Directors, commented on Ivan Svitek’s appointment: “Ivan Svitek joined the Home Credit & Finance Bank’s team in a very complex time, but within a short period has been able to adapt the business to the market conditions with maximum effectiveness. Having proved to be a very competent manager with enormous working experience, Ivan will continue facilitating the achievement of the strategic tasks and the strengthening of our leading positions in the retail credit market.”

“It is a pleasure for me to accept this new position. I would like to stress once more the high potential of the Home Credit& Finance Bank and its team. I wish to thank the shareholders for the confidence they have given me. I will work with maximum commitment, fully aware of how much responsibility has been placed on me”, said Ivan Svitek, and he added: “I would also like to express my appreciation for, in particular, Dmitry Mosolov’s contribution to Home Credit’s development. Over the seven years of his work for the Bank, his career path has spanned from the Head of the Internal Audit Service to the position of the First Vice Chairman of the Board of Directors. He was among those taking part in the launch of PPF Group’s business in Russia. I feel honoured to work with such professionals.”

Ivan Svitek’s professional career includes experience in the consumer goods area, in government structures, in banking and in the area of consumer credit.

Before joining the Home Credit & Finance Bank, Ivan Svitek worked for GE Money, where he gained specific experience in both strategic and operating management of financial services and consumer credit.

Ivan Svitek has worked in various markets of Europe and Latin America. He spent the last 5 years in Brazil as Managing Director of GE Money Bank in Sao Paulo, where he transformed the bank from a single-product business into a universal bank with multichannel distribution.


Ivan Svitek was born on 15 October 1967 in Prague. In 1990 he graduated from the Claremont McKenna College (California, USA) with a Bachelor’s degree in economics and political science. In 1994 he gained his MBA in finance at the INSEAD Business School (France).

Work experience:

In 1998-2008, Ivan Svitek worked for General Electric – Capital Services as Chief Financial Officer and Vice Chairman of the Board of Directors of GE Capital Bank (Prague, Czech Republic), Head of GE Consumer Finance (Dublin, Ireland), President and Chief Executive Officer of GE Money Bank (Sao Paulo, Brazil).

In 1994-1998, he worked for Pepsi-Cola International, where he held at different times the positions of Financial Planning Manager (Vienna, Austria), Planning Manager (Prague, Czech Republic), Financial Controller and the Company’s Official Representative in the Czech Republic (Prague).

In 1993-1994, he held the position of Manager of the Financial Markets Department of Citibank
(Prague, Czech Republic).

In 1991-1992, he worked for the Czechoslovak Ministry of Finance as Adviser to the Minister of Finance (Prague, former Czechoslovakia).



Sofiya Abdrazakova
Press Officer
Tel: (+7) 495 514 1019


ООО Home Credit and Finance Bank (‘‘HCFB’’) [Moody’s Ba3/NP/D-, S&P B+/В] is one of the leaders of the Russian retail banking market with a 26% consumer credit market share and a 10% share of the credit card market (as at 30 June 2009). HCFB offers its clients a wide variety of credit products under various conditions. Its products are available in more than 29 thousand partner shops in 1,200 cities and towns of Russia. The HCFB’s regional network consists of 83 agencies, 172 offices and 6 subsidiaries in Russia (as at 30 June 2009).

HCFB is a member of the Home Credit Group. Home Credit Group companies operate in CEE as well as CIS and Far East finance markets. During 2008 HCG had granted loans in the combined principal of EUR 3.6 billion. 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).

The 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, insurance and consumer finance), private equity investments, and investments in real property. PPF Group also actively seeks investment opportunities and executes 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.