PPF and Home Credit announce the signing of an agreement to sell their banking assets and subsidiaries in Russia to a group of individual investors led by Ivan Tyryshkin. The acquisition of Home Credit and Finance Bank (HCFB) and its subsidiaries by the above-mentioned group will lead to a withdrawal of the Home Credit Group from the Russian market.
Ivan Tyryshkin played a key role in creating the foundations of modern Russian financial markets as the executive director of the RTS Stock Exchange. An investor in several prominent fintech companies in Russia, which he developed, Ivan is one of the founders of SPB Exchange, and is currently the chairman of its board, as well as one of the largest shareholders. SPB Exchange is one of the most important listed fintech platforms in the region.
During the transaction, Bank Home Credit from Kazakhstan, a subsidiary of HCFB, will be sold to selected shareholders and top managers of PPF and Home Credit.
This transaction will be conducted in an organized and structured manner so as to ensure continuity for Home Credit employees and customers in Russia and Kazakhstan. HCFB and its subsidiaries operate efficiently and in accordance with the current regulatory and legal environment in Russia and Kazakhstan.
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