PPF Group’s statement on the agreement to sell its Russian banking assets

In response to various incomplete media reports, PPF Group confirms that it sold 100% of its banking assets in Russia two weeks ago, including all holdings in Home Credit & Finance Bank (HCFB) and its subsidiaries.

PPF Group and MONETA Money Bank agree to terminate the acquisition of Air Bank Group

PPF Group is announcing that it has signed an agreement today with MONETA Money Bank (MMB) to terminate the process of combining the assets of Air Bank Group with MMB. The termination agreement was prompted by macroeconomic changes which radically altered the parameters of the originally planned merger as laid out in the framework agreement signed by the two parties in May 2021 and subsequently updated in November 2021. PPF believes the conditions underlying the agreed transaction are not and will not be fulfilled. PPF Group was ready to meet the transaction’s obligations, but it welcomes the termination agreement, deeming it the best solution for both PPF and other MMB shareholders.