Report: Home Credit Group stabilizes operations of Russian unit

MOSCOW, Jan 21 (PRIME) -- Czech Republic’s Home Credit Group has stabilized operations of its Russia-based unit HCF Bank, the group’s CEO Jiri Smejc said in an interview to Bloomberg during an economic forum on Thursday.

“I believe that Home Credit has managed to stabilize its business in Russia. Now the thing is whether the situation will worsen due to the continuing fall of oil prices,” he said.

HFC Bank’s performance for October–December 2015 is likely to be tolerable, Smejc said, adding that the group plans to offset losses in Russia by developing business in China.

Home Credit Group plans to enforce its positions on the markets of presence in the middle run, he also said.

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