Support The Moscow Times!

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)


Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.