Bank Home Credit buys 49.5% in it from Czech parent group

MOSCOW, Aug 26 (PRIME) -- Bank Home Credit has bought a 49.5% stake in own capital from international group Home Credit N.V., part of PPF Group, the bank said in a statement on Friday.

"Bank Home Credit announces the purchase of a 49.5% stake in own capital from international group Home Credit N.V… Bank Home Credit has thus become a fully Russian legal entity," the bank said.

Czech Republic's PPF Group earlier sold a 50.5% stake in Russian affiliates, one of which was bank Home Credit, for 26.4 billion rubles. The group planned to finish the sale of the remaining shares until December for 16.4 billion rubles. According to the legal entities' register of Russia, Home Credit and Finance Bank owns a 49.5% stake with a face value of 2.066 billion rubles.

(59.7699 rubles – U.S. $1)

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