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
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 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
One year later the death of Czech businessman Petr Kellner, PPF Group is withdrawing from more and more eastern markets. What is happening with the business of the richest Czech? BLITZ recalls that when Peter Kellner died in a helicopter crash in March 2021., The Czech Republic was shocked. He was only 56 years old, … Read more
“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
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
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
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
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
“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