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PPF Group & Home Credit Satisfied with MONETA Shareholders’ Approval to Combine MONETA with Air Bank

PPF Group

19/12/2021 | 1 minute to read

PPF Group and its subsidiary Home Credit announced today that they welcome the approval to combine MONETA Money Bank with Air Bank and its affiliates. The combination is a step towards our goal of creating a strong and digitally focused domestic banking group capable of competing with Czech market leaders and generating long-term value for its shareholders.

“Together with other Moneta shareholders, we can write a new chapter in the history of Czech banking,” said Jean-Pascal Duvieusart, PPF Group shareholder and Home Credit CEO. “I see Moneta and Air Bank Group as highly complementary businesses. The combination is a unique opportunity to bring together the best of both banks, that will drive innovation, deliver best-in-class customer services and offer new products on a scale not seen before in the Czech market.”

The combined Air Bank and MONETA entities will create the Czech Republic’s third-largest bank by clients and be number one in terms of share of consumer finance.

PPF Group remains committed to keeping the combined bank traded on the Prague Stock Exchange.

The closing of the transaction is subject to approvals by regulatory bodies on the EU level (the European Commission), and national levels (the Czech National Bank – CNB, and Národná banka Slovenska – NBS).

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