Profireal Group has decided to take full control over its expansion in Russia and buy out 50% stake from J&T Banka.
Profireal Group has stated that it will continue to cooperate with J&T on expansion financing in Russia and other countries.
The group is expanding its activities also in the Philippines, where it has raised its stake in loan provider FLEXI FINANCE to 75%. Business network expansion is planned for H2 2017.
Philippines are the first country where Profireal Group is offering hire purchase via loans for goods directly in stores. Over more than 20 years in the business, the group extended loans with nominal value exceeding CZK 20bn.