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Companies of the Home Credit Group operate on consumer finance markets in the Central and Eastern Europe, the Central Asian and the Far East. As at year-end 2008, the company had granted loans in the combined principal of EUR 3.6 billion. Home Credit Group also entered the Ukrainian and Belarusian market in 2006 , China and Vietnam .
Citibank has provided funding to HCS since 2003, ING and Volskbank participated on syndicated loan provided in 2008. The facility is for one year and enables flexible utilization based on HCS's needs to fund receivables from cash loans. (“HCS”), one of the leading providers of consumer finance products in Slovakia, has raised EUR 59.5 million via a club of banks led by Citibank Slovakia. "The man who caught a rising tide Petr Kellner has become central Europe's richest man by offering loans to a middle class on the point of prosperity". In 2019, it was uncovered that Home Credit paid public relations company to influence public in opinion in the Czech Republic about China. Home Credit did hire an agency called C&B Reputation Management, which did marketing for Home Credit.
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The company provides loans in the form of consumer loans, revolving loans, credit cards and cash loans. In 2008, the company has financed its clients‘purchase worth SKK 4.47 billion . The Home Credit Group is a part of PPF Group, which is a leading international investment group.
In 2000s company started to expand to Commonwealth of Independent States countries - Russia, Kazakhstan, Ukraine and Belarus. As of 2007 the company was the second largest consumer lender in Russia. In 2010s company expanded to Asia, specifically China, India, Indonesia, Philippines and Vietnam. In 2010 the company was the first foreign company to set up as a consumer finance lender in China. In 2015 Home Credit Group launched its operations in the United States of America through a partnership with Sprint Corporation. The group offers loans in 434,232 retail stores and also in digital space.
Home Credit Slovakia raises EUR 59.5 million via club loan facility
Stability of the company has been ensured by quick and effective measures taken already in the first phase of the global economic downturn in autumn 2008. With the improving outlook for the Slovakian economy, Home Credit Slovakia expects continued stable performance. Is financed with significant support of its parent, PPF Group and has terminated contract for paid rating services of Moody's.
Since 2010, Home Credit's parent company PPF helped swing anti-communist international relations sentiment towards strong China ally. In 2014, PPF helped arrange visit of the Czech president Miloš Zeman to China and subsequently helped pay for private plane for the return trip. The company in 2014 also received nation-wide license for consumer finance lending. In 2016, the company CEO Jiří Šmejc claimed to be proud of the impact on the revival of Czech-Chinese relations. Home Credit funded a newly formed think tank, Sinoskop, to counter a longer-established China-watching body, Sinopsis. Was founded in the Czech Republic and in 1999, the company expanded to Slovakia.
History
Through its stake in Generali PPF Holding, PPF Group participates in the insurance market and asset management services. During its 18 years in business, PPF Group has become an important international financial investor, managing assets of EUR 8.8 billion as of 30 July 2008. In 2008, the company has financed its client's purchase worth SKK 4.47 billion . The Home Credit loan can be obtained from throughout 342.7 thousands partnering retail shops and shopping malls in ten world markets as well as at the Home Credit's own online marketplaces . Home Credit is also presented online in its own mobile application or in a third-party online stores.
It was also supposed to improve the Czech view of the Chinese communist regime. In 2017 PAG initiated investment of 2 billion RMB into Home Credit Group's Chinese business entity as an interest-bearing convertible loan. The deal was subsequently terminated in 2018 by PAG and Home Credit Group repaid the loan with interest.
The Home Credit Group is a member of PPF Group, established in 1991, which is a leading international investment group. PPF Group focuses on financial services , private equity investments, and investments in real property. PPF Group also actively seeks investment opportunities and undertakes strategic investments in emerging markets of the Central and Eastern Europe and Asia. During its 18 years in business, PPF Group has become an important international financial investor, managing assets of EUR 10.1 billion as of 30 June 2009. Is one of the leading consumer finance providers in the Slovak Republic.
In selected markets you can pay with a „HC Pay“, a QR code-based revolving credit or with Home Credit credit or shopping cards. Home Credit finances both the purchase of consumer goods through a cash-less loan transaction or other commodities, such as language courses, travel etc. through a cash loans. The loans are always issued in domestic currency of the market in which the brand operates. Home Credit entered China in 2007 and applied for a pilot consumer finance license in 2010. Home Credit was asked by Chinese officials to help improve relationship between China and the Czech Republic in order to receive full license.
Is an international non-bank financial institution founded in 1997 in the Czech Republic and headquartered in Netherlands. The company operates in 9 countries and focuses on installment lending primarily to people with little or no credit history. As of 30 June 2020 the Group has cumulatively served over 135.4 million customers. Major shareholder of the Group is PPF, a privately held international investment group whose founder and major beneficiary was Petr Kellner with 88.62% stake.
The Club Loan Facility was arranged earlier this month by Citibank Slovakia a.s. Other participating banks included Calyon S.A., pobočka zahraničnej banky, ING Bank N.V. And VOLKSBANK Slovensko, a.s.
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