Home Credit's profit grows to EUR 176m in H1

Amsterdam, Sept 4 (CTK) - The group Home Credit B.V., which provides consumer loans in several countries including the Czech republic, saw its net profit rise by 32.2 percent to EUR176m (Kc4.4bn) in the first half of this year, the company said in a press release yesterday.

Contribution to the growth came from a strong performance within the entire group, with the exception of Belarus.

The figure comprises consolidated data for Belarus, the Czech Republic, Slovakia, Russia and the company's headquarters but it does not include data for China, Vietnam, India and Kazakhstan, which became part of the group in the second half of the year.

Home Credit B.V.'s operating profit rose by 53.2 percent year-on-year to EUR708.4m.

Income from interests grew by 34.7 percent to EUR456.7m. Income from fees more than doubled to EUR207.1m.

The share of non-performing loans in total loans (NPL ratio) lowered to 8.2 percent at the end of June from 8.5 percent at the end of December.

Net volume of loans at the end of June amounted to EUR3.87bn, up by 28.7 percent against the end of December 2011, particularly thanks to Russia.

Deposits increased by 67.4 percent in comparison with the previous six months.

The share of clients' current accounts and fixed-term accounts in the firm's total obligations rose to 63.5 percent.

The group is part of PPF Group N.V., one of the biggest financial and investment groups in Central and Eastern Europe owned by Czech financier Petr Kellner.