Big changes in the Czech market

Published: 09.10.2018 Related countries:  New Zealand New Zealand, Australia Australia

Bank sector in the Czech Republic doing well

Home Credit banking group, owned by PPF and billionaire Petr Kellner, announced plans for the largest merger on the Czech banking market for at least a decade. Based on the planned transaction, the Czech and Slovak part of Home Credit should be linked to Moneta Money Bank, the sixth largest domestic bank. Air Bank, a smaller bank home belonging to Home Credits, should also join the group, creating a home for two million customers. Kellner's new company would thus earn 24.48 percent in Moneta. Closing of the transaction is expected on July 1, 2019.

Source: zpravy.aktualne.cz

CzechTrade Sydney