PPF and Home Credit sell banking assets in Russia

(CIANEWS) - PPF and Home Credit have signed an agreement with a group of individual investors led by Ivan Tyrishkin to sell their banking assets in Russia, including subsidiaries. The acquisition of Home Credit and Finance Bank (HCFB) and its subsidiaries by the aforementioned group marks Home Credit Group's exit from the Russian market. As part of the transaction, Kazakh Home Credit Bank, a subsidiary of HCFB, will be sold to shareholders and managers from the PPF and Home Credit groups. The transaction will be implemented to ensure continuity for Home Credit's employees and clients in both Russia and Kazakhstan. The parties have agreed not to disclose the contract’s value.



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