PPF Group's history

PPF was founded in the Czech Republic in 1991 as an investment fund and participated in the privatisation of the local economy after the fall of the Czechoslovak Socialist Republic in 1989. The Group's early days were difficult and its first large investment was with the acquisition of a major interest in Ceska pojistovna, the largest insurer in the Czech Republic. Its successful transformation from a state-owned, ineffective company into a functioning private business laid the foundation for subsequent successes.

In its strategic foray into the banking sector, PPF founded Home Credit, specialising in consumer finance, and then acquired and subsequently built PPF banka and eBanka in the latter half of the 1990s. PPF also expanded into Slovakia. PPF's investment portfolio in the Czech Republic was completed in 2004 as the Group successfully concluded the restructuring of the largest domestic private TV channel (TV NOVA) and sold it to US-based CME.

2002 saw PPF continue its pursuit of growth by entering the key Russian market, making its first investments in insurance and consumer financing. Despite initial difficulties, the Group persevered with its fundamental investment strategy and the Russian market with its huge potential for growth has remained the focal point of its business interests ever since. Gradually, PPF acquired an interest in Nomos-Bank, successfully launched Home Credit, and invested in the insurance sector as well as in silver and gold mining, Polymetal, in this important market.

In 2007, PPF signed an agreement with Italian-based insurance company Generali to form PPF Generali, a joint venture active in Central and Eastern Europe and CIS countries. This significant step made the company a truly global business. In keeping with this global approach, the Company also tapped the Asian markets, primarily China and Vietnam, and invested in Ukraine, Belarus, Kazakhstan and other countries, predominantly through the development of the consumer finance, insurance and real estate businesses.

In more recent years, PPF Group has focused on strengthening and developing its previous investments, whilst continuing to seek new investment and business opportunities. The Group has broadened its sector coverage, acquiring a majority interest in Russia's largest consumer electronics retailer, Eldorado and has also newly invested in Europe through Energeticky a prumyslovy holding, which acquires interests predominantly in energy companies in the Central European region.

PPF Group's current strategy is focused on the developing markets of Europe and Asia and the growth of the three major investment projects that are fully under its control (banking, the consumer segment and real estate) and its three other large projects (insurance, mining and energy), which it develops together with its partners.

PPF Group’s Milestones