PPF and Home Credit announce the signing of an agreement to sell their Russian banking assets and subsidiaries to a group of individual investors led by Ivan Tyryshkin. The acquisition of Home Credit and Finance Bank (HCFB) and its subsidiaries by the aforementioned group will lead to a divestment of Home Credit Group from the Russian market.
Ivan Tyryshkin was instrumental in forming the foundations of Russia’s modern financial markets as the CEO of RTS Stock Exchange. Having invested into and scaled a number of prominent fintech companies in Russia, Ivan is one of the founders of SPB Exchange, and now is the Chairman of its board of directors as well as one of its largest shareholders. SPB Exchange is one of the leading publicly traded fintech platforms in the region.
Under the transaction, Kazakhstan’s Bank Home Credit, a subsidiary of HCFB, will be sold to shareholders and selected top managers of PPF and Home Credit.
This transaction will be conducted in an orderly and structured manner to ensure continuity for Home Credit employees and customers in Russia and Kazakhstan. HCFB and its subsidiaries operate effectively and in compliance with the current regulatory and legal environment in Russia and Kazakhstan.
Notes for Editors
PPF Group operates in 25 countries, investing in multiple sectors, including financial services, telecommunications, media, biotechnology, real estate, and engineering. PPF Group’s reach spans from Europe to North America and across Asia. The Group owns assets to the value of EUR 40.3 billion and employs 80,000 people globally (30 June 2021).
About Home Credit
Founded in 1997, Home Credit is a global consumer finance provider with operations in nine countries of Central and Eastern Europe, the Commonwealth of Independent States and Southeast, as well as India and China. The company headquartered in Prague, Czech Republic, offers non-collateralized, purpose-driven loans, cash loans and revolving lending products both online and in partnering retail shops. It drives and broadens financial inclusion for unbanked populations and encourages economic development through supporting domestic consumption.
Head of PPF Group Communications
T: +420 224 174 214
Home Credit Group Head of Communications
T: +852 6266 8345