The Bank of Russia excluded Home Credit from the register of major payment organizations. To enter this registry, you must meet one of six criteria. The Central Bank did not indicate the reasons for its decision.
Home Credit Bank has been excluded from the register of major credit institutions in the payment services market, according to the updated list of such organizations published on the Bank of Russia website.
The reasons for excluding Home Credit Bank from the registry are not given. At the moment, there are 22 organizations in this register, including Sberbank, Alfa-Bank, Tinkoff Bank and VTB Bank.
To enter the special register of the Bank of Russia, the proportion of transactions with settlement and credit cards at ATMs, payment terminals, transfers, etc. must be at least 2%.
In February, Home Credit agreed with Sovcombank to sell a portfolio of Svoboda installment cards. These cards are not Home Credit’s core product and require significant operating resources to maintain.
In August 2022, Home Credit Bank became a fully Russian company. Home Credit and Finance Bank bought a 49.5% stake from the international group Home Credit NV
Author:
Kirill Bilyk
Source: RB
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