Home Credit Bank Kazakhstan

As of November 2019, DB Bank Home Credit Kazakhstan JSC is a member of the holding company Home Credit N.V. DB Bank Home Credit JSC specializes in retail lending, providing loans only in tenge and only to individuals.

History

2022: Withdrawal of Russians from shareholders

At the end of December 2022, the Russian Home Credit (HKF-Bank) announced the withdrawal from the shareholders of the Kazakhstani Home Credit Bank. A 25% stake in the credit institution was bought by Czech businessman Jiri Schmeitz, who heads the PPF Group. As a result, his share in Home Credit Bank Kazakhstan rose to 34.7%.

The increase in the share of Jiri Schmeits was previously approved by the Agency of the Republic of Kazakhstan for the Regulation and Development of the Financial Market (ARRFR). By the end of December 2022, there are no Russian shareholders in the shareholders of Kazakhstan's Home Credit Bank, the HCF Bank said.

Russian HKF Bank closed a deal to sell 25% in Kazakhstan's Home Credit

In mid-December, it became known about the upcoming purchase by Jiri Shmeits of the remaining 25% from HKF Bank. By this time, permission from the ARRFR had already been received, and the participants in the transaction were awaiting the consent of the Russian Central Bank of the Russian Federation.

Home Credit Bank Kazakhstan specializes in retail lending, providing loans only in Kazakhstan currency and only to individuals. According to the National Bank of Kazakhstan, as of October 1, 2022, the credit institution took 14th place among 21 banks of the republic in terms of assets.

Until the spring of 2022, the Russian HKF Bank owned 100% of the group's business in Kazakhstan. Then 75% of Kazakhstan's Home Credit Bank was bought by a group of top managers of PPF Group led by Jiri Schmeits. As a result, the Russian credit institution remained 25%.

PPF Group itself began withdrawing from Russian assets in late spring and early summer 2022. A group of investors became shareholders of HKF Bank. In September 2022, the group announced the final closure of this transaction, which brought it losses of 900 million euros.

PPF Group operates in 25 countries, owns assets in various sectors (including financial services, telecommunications, media, biotechnology, real estate and engineering) worth 40 billion euros (by the end of 2022).^[1]

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