Hospodarske Noviny reports that Moneta Money Bank (formerly GE Money Bank) has agreed with PPF, the owner of the Home Credit mortgage lender and Air Bank to acquire its banking and lending in businesses in Czechia and Slovakia.
Moneta is currently the sixth largest bank on the Czech market, and the combined entity would be the second largest lender in the Czechia, challenging established players like CSOB, Ceska sporitelna and Komercni banka.
Moneta currently has a million clients, Air Bank has 637,000 and Home Credit has 469,00 clients. The combined entity will keep the Air Bank moniker.
