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Petr Kellner conquering Russian banks

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Czech financier Petr Kellner has become “famous” in Russia for his dispute with local entrepreneur Oleg Deripaska over the insurance company Ingosstrach, but the richest Czech is gradually – and in a much calmer way – acquiring stakes in Russian banks. A few days ago, his group PPF bought a 10% share in the west Siberian bank Khanty-Mansiysk Bank from East Capital of Russian entrepreneur Alexander Nesis.

“We definitely want to take advantage of opportunities on the Russian market during the current crisis,” PPF director for communication Milan Tománek said. The group is trying to reinforce its position of the leader in the area of consumer finance, he added.

PPF already controls Home Credit Finance Bank, Russia’s number one in the segment of consumer loans, and roughly a 30% share in the bank Nomos. Khanty-Mansiysk Bank is a fast-developing regional financial institution – on Monday, it raised share capital by a half to 10.5 billion rubles (some CZK 6 billion).

The share in Khanty-Mansiysk Bank provides PPF with access to the markets of the “oil” Khanty-Mansiysk autonomous district. According to Russian press reports, the regional government will remain the principal shareholder in the bank after the capital hike, but its stake will drop below 50%. The KhantyMansiysk district is regarded as one of promising opportunities on the Russian market for Czech exporters and investors.

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