Home Credit

PPF chief Šmejc burned himself for the first time. He sunk tens of millions of euros into the failed German kitchen supplier

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PPF chief Šmejc burned himself for the first time. He sunk tens of millions of euros into the failed German kitchen supplier

Businessman Jiří Šmejc’s Emma Capital group is experiencing an unpleasant first. The German supplier of custom kitchens Küchenquelle, of which the Czech group holds 46 percent, has ended up in bankruptcy proceedings due to financial difficulties. Emma Capital, which is one of the largest investment groups in the Czech Republic, has sunk at least tens … Read more

Home Credit sells assets in the Philippines and Indonesia for 15 billion

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Home Credit sells assets in the Philippines and Indonesia for 15 billion

In the Philippines, Krungsri Bank and MUFG Bank are buying 75% and 25% of Home Credit Philippines for a total of 406 million euros (about CZK 9.89 billion). In Indonesia, Krungsri Bank, Adira and an Indonesian investor are buying 75%, 10% and 15% stakes in Home Credit Indonesia for a total of 209 million euros … Read more

PPF is partially leaving the Russian market after months of silence. Home Credit will be bought by a local investor

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PPF is partially leaving the Russian market after months of silence. Home Credit will be bought by a local investor

PPF and Home Credit have signed an agreement with a group of individual investors, led by Ivan Tyryshkin, to sell their banking assets in Russia, including its subsidiaries. This means that the Home Credit Group is leaving Russia. PPF and Home Credit announced this in a press release on Tuesday. They did not disclose the … Read more

PPF is in trouble in Kazakhstan. The loan business and gold mining are at stake

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PPF is in trouble in Kazakhstan. The loan business and gold mining are at stake

“The priority is to ensure the safety and health of Bank Home Credit employees, which the PPF Group owns in Kazakhstan. We have news that everyone is fine. We continue to monitor the situation on a regular basis, “said Leoš Rousek, PPF Group Communications Director. The group, through its Kazakh bank, has been operating in … Read more

A new banking giant PPF is created. Moneta joins Air Bank, despite protests

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A new banking giant PPF is created. Moneta joins Air Bank, despite protests

On Monday, Moneta Money Bank shareholders agreed to merge with PPF’s banking division, which includes Air Bank, Czech and Slovak Home Credit and Benxy (Zonky). At the same time, the General Meeting approved the financing of the transaction, ie an increase in the bank’s share capital for the subscription of new shares. This was stated … Read more

Will infonavit credits rise after the 22% rise in the minimum wage?

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Will infonavit credits rise after the 22% rise in the minimum wage?

After knowing that the minimum wage will increase 22% from next year, there is uncertainty about whether this will harm Mexican workers who pay an Infonavit credit, but fortunately it will not. According to the Institute of the National Housing Fund for Workers (Infonavit), a proportional increase will not be applied in the credits denominated … Read more

What you (didn’t) miss: PPF is expanding, fears are growing on Wall Street, companies are calculating wage growth.

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What you (didn’t) miss: PPF is expanding, fears are growing on Wall Street, companies are calculating wage growth.

Following the recent accusation of investor Ondřej Janata of a billion-dollar fraud on retail investors, another suspicious investment offer appeared on the Czech financial market. The television station Šlágr, which is trying to sell dubious securities, came out with her. These are shares of Riocath FNDB, which are offered both through the company’s website and … Read more

How does the Air Bank that PPF wants to merge with Moneta make? Net profit grew

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How does the Air Bank that PPF wants to merge with Moneta make? Net profit grew

The Air Bank Group, which consists of Air Bank, Benxy and the Czech and Slovak Home Credit, reported a net profit of CZK 1.47 billion in the first nine months of this year. Year-on-year growth was 16.9 percent. On the other hand, operating revenues fell slightly by 1.6 percent to 4.29 billion crowns compared to … Read more

PPF and Moneta have agreed on a new merger financing model

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PPF and Moneta have agreed on a new merger financing model

“The PPF Group continues to promote its vision of creating a strong domestic bank with Czech capital. The merger of the Air Bank Group with Moneta seems to be a very suitable, but not exclusive, platform for this purpose. In a situation where the financial and commercial results of the Air Bank Group significantly exceed … Read more

A day in the business: A heavy blow to pubs, people start cutting back spending

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A day in the business: A heavy blow to pubs, people start cutting back spending

Clients of the fallen Bohemia Energy recalculate how much they will pay for electricity and gas from new suppliers. And they have to spin dolls from the price lists of suppliers of last resort, because they probably didn’t expect a 100 percent increase in price. – Although this is an extreme case, analysts promise that … Read more