Czech PPF Group Bought Shares of Khanty-Mansiysk Bank

23.07.2009 — News

UGRA.

Russia Finance Corporation B. V., a subsidiary of the Czech PPF Group, bought more than 9.9% of shares of the Khanty-Mansiysk Bank. Experts expect that the Ugra’s "title" bank may in the future merge with NOMOS-BANK.

PPF owns 29.9% of NOMOS-BANK shares. The company East Capital which sold some of their shares in the Khanty-Mansiysk Bank to the Czech group is affiliated with this financial organisation. The bank informed RusBusinessNews - before this deal the shareholder structure of the bank looked as follows: the Government of Ugra – 66.3%, East Capital – 16.4%, Ferrosplav Invest – 6.5%, Eurasian Development Bank – 5%.

The Czech PPF Group states the broadening of their presence in the Russian banking market as one of the priorities for the nearest future. PPF Group, as well as shares in the Khanty-Mansiysk Bank and NOMOS-BANK also, in Russia, owns 100% of shares of the Home Credit and Finance Bank which has 27.2% of the Russian commodity credit market.

Proprietors of the PPF Group are a Czech billionaire Petr Kellner whose worth is estimated at 6 billion dollars by the Forbes magazine (he owns 95% of shares of the holding company PPF Group N. V.) and Jiři Smejc (5%).