Russian bank HCFB not for sale - shareholders

PRAGUE Wed May 21, 2014 7:38am EDT

Related Topics

PRAGUE May 21 (Reuters) - Consumer lender Home Credit B.V. has no plan to sell its operations in Russia, it said on Wednesday.

The group, owned by Czech investment firm PPF and Czech businessman Jiri Smejc, runs Home Credit & Finance Bank (HCFB) in Russia.

"Beneficiaries of the Home Credit B.V. holding authorised the company's top management to stress again that nothing is changing in the shareholders' intentions to develop Russian bank HCFB in the long run," a statement on the website of majority shareholder PPF said.

"Shareholders are not planning to sell this bank," it said.

The statement was issued in reaction to an article in Russian daily Izvestiya, which the company said had reported incorrectly that a sale was being prepared. (Reporting by Jan Lopatka; Editing by Jason Hovet)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.