Home Credit Bank has agreed with Sovcombank on the sale of a portfolio of Svoboda payment cards. Such cards are not Home Credit’s main product and require significant operating resources to maintain, the bank’s board said.

Home Credit will sell a portfolio of Svoboda installment cards to Sovcombank

RBC informs about the signing of an agreement between Sovcombank and Home Credit Bank for the sale of a portfolio of Svoboda cards. It should be noted that for Sovcombank this transaction will be the first after falling under Western sanctions.

Sovcombank will receive a portfolio of Svoboda installment cards. Owners of such cards will be offered to switch to Halva from Sovcombank on preferential terms.

Home Credit decided to close the installment card as a product, since its maintenance requires significant resources from the bank, and it is not the main one for it, said Alexander Skabara, Chairman of the Board of Home Credit.

Sovcombank has already carried out a similar deal: in 2020, the bank bought Qiwi’s Conscience installment card project.


Kirill Bilyk

Source: RB

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