Czech group PPF signs deal to buy Ukrainian bank

02-05-2006

The Czech financial group PPF has signed a preliminary agreement to buy the Ukrainian bank Privatinvest, the business daily Hospodarske Noviny reported Tuesday. PPF, which owns the Czech Republic's biggest insurer, Ceska Pojistovna, wants to enter Ukraine following a successful foray in Russia with its company Home Credit, which has become one of the top three specialists in consumer loans in Russia. PPF spokeswoman, Dita Fuchsova, told Hospodarske Noviny that PPF intends to start offering financial services in Ukraine before the end of this year.