The value of Russian projects of Czech investment group PPF amounts to EUR1bn (about CZK 5bn), which represents only about one tenth of the group’s value, so the Russian invasion of Ukraine will not endanger PPF’s global business, the group told daily Hospodarske noviny (HN) today.
“The Russian assets are funded solely from Russian sources and are fully separated from the group’s other assets and projects,” spokesman Leos Rousek said.
PPF’s main investments in Russia are consumer loan entities Home Credit and Finance Banks. The group also controls Russian insurer PPF Life Insurance and owns administrative buildings in Moscow and shopping centre Nevsky Centr in St. Petersburg. In cooperation with Radius Group it develops logistic park South Gate Industrial Park. PPF also operates in Russia via agricultural group RAV Agro and has a minority stake in mining company Polymetal International.
Russian media have reported in recent weeks that Russian Home Credit is on sale. According to HN, the sale would be very complicated in the current situation.
Source: PPF and CTK
