PPF on Bank Sale Interest

PPF Group said Saturday that “large” Russian and international banks have expressed interest in acquiring a stake in Home Credit & Finance Bank, its Russian consumer lending unit.

PPF sees “no grounds” for selling the bank, which is expected to have record income this year, Milan Tomanek, a spokesman for the Czech business group, said in a statement. Business New Europe reported Saturday that PPF might sell the unit to the state-run VTB Group.

VTB Group’s deputy chairman Herbert Moos declined to confirm the acquisition, saying the bank doesn’t comment on “rumors,” the bank’s press service said in a statement. 

(Bloomberg)


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