Home Credit & Finance Bank

For the parent financial institution, see Home Credit.

Home Bank
Native name
Хоум Банк, ХКФ Банк
Company typeLLC
HCFB
IndustryFinancial services
PredecessorInnovation Bank Technopolis
Founded2002; 22 years ago (2002)
Headquarters
Moscow
,
Russia
Key people
Alexander Skabara (Chairman of the Board),[1]
Jiri J Smejc (Directors Board Chairman)[2]
Revenue69,766,000,000 Russian ruble (2019) Edit this on Wikidata
Increase RUB 46.2 billion (2019)[3]
Increase RUB 15.8 billion (2019)[3]
Total assetsIncrease RUB 343.8 billion (2019)[4]
Total equityIncrease RUB 84.4 billion (2019)[5]
OwnerPPF
ParentHome Credit BV
SubsidiariesHome Credit Bank Kazakhstan, JSC
RatingBB− (Fitch) (2020)[6]
A(RU) (ACRA) (2022)[7]
ruBBB+ (Expert RA) (2022)[8]
Websitewww.homecredit.ru

Home Bank is a private retail bank headquartered in Moscow. It was registered by the Bank of Russia in 1992 under the name Innovation Bank "Technopolis". In 2002, after the acquisition of 100% share by the international group Home Credit, the bank began to work under the name of LLC "HCF Bank" (ХКФ банк).[2]

It ranked 35th in terms of assets, and it was among the top 15 banks in the Russian retail lending market. It possessed the following ratings of Russian and international rating agencies: Fitch — "CC", Expert RA — "ruBBB+" and ACRA — "A(RU)".[6][8][7] In November 2020, the bank was headed by Dmitry Peshnev-Podolsky.[9] Under his leadership, Home Credit Bank is preparing for the next step of digital transformation and business diversification process.[10]

Home Credit Russia is the one from two, the largest subsidiaries of the group of the same name.[11] HCFB (including Kazakhstan operations) reported a net profit of 3.7 billion Ruble in 1H2020, as against 15.8 billion Ruble during 2019.[11]

In February 2024, Sovcombank announced its intention to buy Home Credit. The deal is planned to be completed in 2024-2025. 51% will be purchased for shares of Sovcombank's additional issue (5%), then the remaining 49% for cash.[12]

Activity

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Office of Home Credit Bank near Voykovskaya metro station in Moscow
Office of Home Credit Bank near Voykovskaya metro station in Moscow

Through the wide branch network in Russia (more than 116 thousand points of sale) and online channels, HCFB offers POS loans and installments, unsecured cash loans, credit and debit cards, deposits.[2][13] The bank is one of the two Russian instalment card issuers in the country and develops its product under the Svoboda brand.[14] Together with its sister companies "Always YES" (Credit Brokerage) and "Forward Leasing" (Leasing), HCFB forms an ecosystem of loans for purchases.[10]

HCFB was the inventor in Russia of the business idea of interest-free instalments, which since 2007 were launched in large retail chains in the format of 0-0-24, 0-0-10.[14] In 2017, the bank was the first in Russia to launch a marketplace of goods purchased in installments.[10] Home Credit Russia had a market share to 22% within POS loans as of end 2019.[11]

In 2018, the bank was the first to issue a loan with completely remote customer identification through a Unite Biometric System [ru].[15] In 2020, HCFB was the first to implement the possibility of purchasing goods in instalments directly on the social network VKontakte.[16]

In November 2023, the bank was sanctioned by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) under E.O. 14024 for operating or having operated in the financial services sector of the Russian Federation economy.[17]

Key indicators

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Table 1. Key performance indicators, per year (in Russian Ruble Millions, MRUB)

Index (MRUB) 2008 2009 2010 2011 2012 2013 2014[18] 2015[19] 2016[20] 2017[21] 2018[22] 2019[23]
Net profit 3,659 Increase5,179 Increase9,411 Increase10,754 Increase19,056 Decrease11 105 Decrease-4,524 Decrease-8,814 Increase7,745 Increase14,245 Decrease13,809 Increase15,772
Operating income 25,920 Decrease24,345 Increase24,706 Increase32,342 Increase61,576 Increase90,296 Decrease69,907 Decrease43,674 Decrease39,397 Increase40,179 Increase43,145 Increase46,169
Assets 113,449 Decrease96,476 Increase101,099 Increase155,689 Increase337,816 Increase358,934 Decrease338,740 Decrease267,923 Decrease237,591 Increase296,210 Increase327,790 Increase343,847
Loan portfolio 82,014 Decrease58,929 Increase75,275 Increase112,833 Increase223,803 Increase285,913 Decrease244,779 Decrease178,418 Decrease170,945 Increase208,249 Increase245,354 Increase262,411
Equity 20,598 Increase26,833 Increase33,019 Decrease30,547 Increase46,823 Increase55,196 Decrease52,648 Decrease39,654 Increase43,797 Increase52,873 Increase63,086 Increase85,402

References

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  1. ^ "Scabara Alexander". TAdviser. 2022. Retrieved 17 January 2023.
  2. ^ a b c Bloomberg,Home Credit & Finance Bank LLC 2021.
  3. ^ a b HCFB:Consolidated Financial Statements 2019, p. 78.
  4. ^ HCFB:Consolidated Financial Statements 2019, p. 66.
  5. ^ HCFB:Consolidated Financial Statements 2019, p. 77.
  6. ^ a b "Fitch Revises Russia-Based Home Credit & Finance Bank's Outlook to Stable; Affirms IDR at 'BB-'". Fitch. 29 September 2020. Retrieved 1 February 2020.
  7. ^ a b "Home Credit & Finance Bank LLC". ACRA. 26 October 2022. Retrieved 17 January 2022.
  8. ^ a b "HCF Bank". Expert RA. 1 June 2022. Retrieved 17 January 2022.
  9. ^ "Home Credit's Russian unit names CEO". Fitch. 30 October 2020. Retrieved 2 February 2020.
  10. ^ a b c Кречетова, Ангелина (20 January 2021). Хоум Кредит решил запатентовать более 40 товарных знаков [Home Credit decided to patent over 40 trademarks]. FRANK RG (Online edition) (in Russian). Retrieved 5 February 2021.
  11. ^ a b c CRISIL, Home Credit India Finance Private Limited, October 21 2020, Moderate credit profile of parent, Home Credit Group BV.
  12. ^ "Совкомбанк покупает Хоум Банк". Banki.ru (in Russian). 16 February 2024.
  13. ^ HCFB:Consolidated Financial Statements 2019, p. 14.
  14. ^ a b Шерункова, Ольга (20 January 2021). Дорогая банку «Халва» [Rich for a bank ″Halva″]. Kommersant (in Russian). p. 8. Retrieved 5 February 2021.
  15. ^ Банк «Хоум Кредит» выдал первый кредит с удаленной идентификацией [Home Credit Bank issued the first loan with remote identification] (News agency) (in Russian). CNews. 16 July 2018. Retrieved 5 February 2021.
  16. ^ Шестоперов, Дмитрий (29 October 2020). Платежная система «ВКонтакте» запустила услугу рассрочки [Payment system "VKontakte" launched an instalment plan service]. Kommersant (in Russian). Retrieved 5 February 2021.
  17. ^ "Treasury Hardens Sanctions With 130 New Russian Evasion and Military-Industrial Targets". 2 November 2023.
  18. ^ "Home Credit and Finance Bank. Consolidated Financial Statements for the year ended 31 December 2014". Retrieved 9 December 2023.
  19. ^ "Home Credit and Finance Bank. Consolidated Financial Statements for the year ended 31 December 2015". Retrieved 9 December 2023.
  20. ^ "Home Credit and Finance Bank. Consolidated Financial Statements for the year ended 31 December 2016". Retrieved 9 December 2023.
  21. ^ "Home Credit and Finance Bank. Consolidated Financial Statements for the year ended 31 December 2017". Retrieved 9 December 2023.
  22. ^ "Home Credit and Finance Bank. Consolidated Financial Statements for the year ended 31 December 2018". Retrieved 9 December 2023.
  23. ^ HCFB:Consolidated Financial Statements 2019.
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