Loan firm Home Credit pulls out of Ukraine

13-12-2010

The Czech-owned loan firm Home Credit announced on Monday they were pulling out of Ukraine. The firm has sold its Dnepropetrovsk-based branch to the Ukrainian Platinum Bank although the deal is yet to be approved by the country’s regulators. Home Credit is a major loan firm, owned by the Czech financial group PPF. In the Czech Republic, it provided loans worth 3.7 billion crowns, more than 195 million US dollars. It is also doing well in other countries of the former Eastern bloc including Russia, Kazakhstan, Vietnam and China. Next year, the firm is planning to set up new branches in Egypt and Indonesia.