31 May 2022 11:22

Home Credit reduces stake in HCF bank to controlling one, Russian investors obtain 49.5% of credit institution

MOSCOW. May 31 (Interfax) - Home Credit B.V. has sold 49.5% of its shares in the Russian HCF bank to local investors, while retaining a controlling stake in the credit institution.

According to data in the SPARK-Interfax analytical system, the former head of the RTS index, Ivan Tyryshkin, has received 9.91% of HCF bank; and Ibragim Zagidulin, Yelena Martynenko, Violetta Chaika, and Dmitry Chemendryakov have each obtained 9.9%; while Home Credit has retained 50.49%.

There were previous reports that the Home Credit group had sold a 49.5% stake in the Russian IC Home Credit Insurance and the Kupi ne Kopi [Buy Don't Save] microcredit organization to the same group of investors. Each of the individuals received 9.9% of the insurance company and microcredit organization, respectively, with the group retaining a 50.5% stake.

Tyryshkin at the time explained to Interfax that this was the first stage of the deal.

"We have an extended deal, and there are many terms and conditions. It could be closed either quickly or not quickly," Tyryshkin said.

Tyryshkin had previously also completely purchased the Forward Leasing company from one of Home Credit's entities.

Tyryshkin headed the RTS exchange in 2001-2003. He is one of the founders and one of the largest shareholders in the SPB Exchange, and heads its board of directors.

PPF Group and Home Credit in mid-May entered into an agreement on selling their banking assets and subsidiaries in Russia to a group of Russian individual investors led by Tyryshkin, the Czech group said in a statement at the time. The agreement envisaged that the Kazakh Home Credit bank, a subsidiary of the Russian HCF bank, would be sold to shareholders and several senior managers of PPF and Home Credit as part of the deal.

PPF senior management last week bought 75% of the shares in the Kazakh Home Credit bank from the Russian HCF bank

The Russian HCF bank is a subsidiary of the Home Credit N.V. holding, which is part of the international PPF group. Its largest beneficiary was Czech entrepreneur Petr Kellner, who died in a plane crash in March 2021. In the autumn of 2021, it became known that PPF had put the Russian HCF bank up for sale.

According to the results of 2021, HCF Bank was 30th in terms of assets in the Interfax-100 ranking prepared by the Interfax Center for Economic Analysis.