Home Credit Bank bought out 49.5% stake from Home Credit N.V.
PPF Group sold a 50.5% stake in subsidiaries in Russia for 26.4 billion rubles in June. The remaining stake will be sold for 16.4 billion rubles, with the deal to be completed by November 2023.
The deal was announced by the press service of Home Credit and Finance Bank. They emphasized that the exit of the foreign shareholder was financed from the bank's own funds.
International group Home Credit N.V. sold its 49.5% stake in Home Credit Bank to the bank itself, Home Credit and Finance Bank LLC.“The change of ownership will not affect our operations in any way. The bank is in excellent financial condition,” said Home Credit Bank Board Chairman Alexander Skabara.