Home » Business » PPF and Home Credit will leave Russia, selling their assets – ČT24 – Czech Television

PPF and Home Credit will leave Russia, selling their assets – ČT24 – Czech Television

As part of the transaction, Kazakh Bank Credit Home, a subsidiary of HCFB, will be sold to shareholders and managers of the PPF and Home Credit groups. The transfer will be made in accordance with applicable laws, in order to ensure continuity for employees and customers Home Credit in Russia and Kazakhstan.

“HCFB and its subsidiaries are doing well and operating in accordance with the regulatory and legal requirements in force in the Russian Federation and the Republic of Kazakhstan. The transaction price will not be released after agreement of both parties,” said PPF.

According to PPF, Tyryshkin has made an important contribution to building the foundations of modern financial markets in Russia as CEO of the RTS Exchange. He also invested in a number of leading Russian fintech companies, which he was able to develop. He is one of the founders of the SPB exchange. He currently chairs its board of directors and is one of the largest shareholders in this scholarship, which is one of the largest platforms for public trading fintech companies in the region.

PPF Financial Group operates in 25 countries in Europe, Asia and North America. It invests in financial services, telecommunications, media, biotechnology, real estate and engineering. The group includes, for example, the Home Credit installment company, the real estate group PPF Real Estate Holding, Air Bank, the telecommunications company Cetin and O2, the central media company European Media Enterprises (CME), the engineering company Škoda Transport or the company. toll operators in the Czech Republic CzechToll.

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The situation on the Russian market is increasingly hostile to any Western companies, the program said Business CT24 Natland chief economist Petr Bartoň. At the same time, according to him, Western companies may find themselves at a crossroads, whether with reputational risks due to the fact that they continue to engage in Russia, or with methods of financing.

According to the expert, it is difficult to say in a uniform way why companies are leaving the Russian market. Withdrawal has different causes for different companies. In the case of PPF Group, this is either based on other investors or on the reputation of its customers. He cited L’Oreal as an example, which faced great pressure from its customers. “Apple is leaving because it can’t get its technology there.” McDonald’s, in turn, has a branch-based business, and that’s a long time before it can sell them, “he said.

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