Home Credit Bank became a fully Russian company. The bank itself (Home Credit and Finance Bank) bought a 49.5% stake from the international group Home Credit NV The change in ownership will not affect the organization’s operations, the bank said.
The deal was announced by the press service of the Home Credit and Finance Bank. They highlighted that the departure of the foreign shareholder occurred at the expense of the bank’s own funds.
The international group Home Credit NV sold its 49.5% stake in Home Credit Bank to the bank itself, LLC Home Credit and Finance Bank.
“The change of ownership will not affect our operations in any way. The bank is in excellent financial condition,” said Alexander Skabara, Chairman of the Board of Home Credit Bank.
PPF Group and Home Credit sold their Russian assets and subsidiaries in May. As a result of the transaction, a 49.5% stake was transferred to Russian investors. PPF Group sold a 50.5% stake in subsidiaries in Russia in June for 26.4 billion rubles. The remaining part will be sold for 16.4 billion rubles, the process is expected to be completed in November 2023.
AFK Sistema became interested in Home Credit Bank, but the parties did not agree on the terms.
Author:
Kirill Bilyk
Source: RB
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