Kellner is leaving insurance industry and will strengthen its position in energy sector and consumer finance services [Access Czech Republic Business Bulletin]

PPF (Czech Republic), financial group, will strengthen its position in energy sector and consumer finance services after leaving insurance holding Generali PPF Holding (Italy/Czech Republic). Home Credit group (HC) (Czech Republic) is the key company of PPF. HC, providing consumer finance services in eight countries in Europe and Asia, wants to continue in expansion. The whole HC group made a profit EUR 231, CEK 5.78 bil in 2011. Home Credit Russia, which provided loans in Russia worth EUR 2.7 bil, has gained a dominant position. PPF wants to strengthen its position in energy sector. PPF is a co-owner of energy holding EPH (Czech Republic), which gained, among others, 49% stake in a gas company SPP (Slovakia) for EUR 2.5 bil at the end of 2012. The richest Czech Mr Petr Kellner is the owner of PPF.