November 27, 2018 / 9:29 AM / 13 days ago

UPDATE 1-Czech PPF Financial quarterly profit rises by 69 percent

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PRAGUE, Nov 27 (Reuters) - Quarterly net profit at PPF Financial Holdings — part of the PPF Group owned by the richest Czech Petr Kellner — rose by 69 percent in the third quarter from a year ago, the group said in a regulatory filing released on Tuesday.

Profit rose to 177 million euros from 105 million euros a year earlier, PPF said. The privately-held company did not give a reason for the increase.

PPF Financial Holdings includes lenders Home Credit, PPF Banka and Air Bank, and is part of the PPF Group along with companies in telecommunications, biotechnology and other fields.

Home Credit Group is in the process of selling Air Bank and other assets to Moneta Money Bank in a $883 million deal, one of the largest in the Czech banking sectors in recent years. (Reporting by Robert Muller, Editing by Michael Kahn)

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