PPF and Home Credit leave Russian market

Investment group PPF and her company Home Credit have finished the sale of their remaining 49.5 percent share in the Russian company Home Credit & Finance Bank (HCFB), including the shares in some of HCFB’s daughter companies.

The sale means that PPF and Home Credit are leaving Russia’s banking market, the Czech News Agency reported on Wednesday. PPF announced in a press release that a group of individual investors has now taken over full ownership of HCFB.

PPF Group is an international diversified investment group which was founded in Prague in 1991 by the now deceased Czech billionaire Petr Kellner.