History

The PPF Group dates back to 1991. In the sixteen years of its existence, the PPF Group became the biggest Czech investor and one of the most important financial groups in the Czech Republic.

2008 (January – February) 

  • Having obtained all requisite regulatory approvals, the transaction between Assicurazioni Generali S.p.A. and PPF Group N.V. is settled.
  • PPF Group receives a licence from the State Bank of Vietnam, which gives it permission to start building a financial services company.
  • PPF Group increases its interest in Russia’s Nomos-Bank to 29.91 per cent.

2007

  • PPF Group executes the agreement setting up GENERALI PPF HOLDING B.V. The new joint venture with total assets of EUR 5.1 billion and income from premiums written of EUR 2.6 billion has more than 9 million clients.
  • Home Credit Group penetrates the Belarus market through the acquisition of a controlling stake in the local bank, OAO Lorobank (its current business name is OAO Home Credit Bank).
  • The value of assets managed by ČP INVEST unit trusts exceeds CZK 5 billion. More than CZK 2.28 billion is placed in stock funds.
  • Česká pojišťovna’s performance for 2006 ends with an all-time record profit of CZK 8.3 billion.
  • The transfer of a 100% interest in Česká pojišťovna, a.s. from PPF Group N.V. to CZI Holdings N.V. is completed. PPF Group N.V. is the sole shareholder of CZI Holdings N.V.
  • PPF Group acquires 5% in Russia’s Nomos-Bank through Russia Finance Corporation B.V.
  • Ladislav Bartoníček becomes a shareholder of PPF Group N.V., owning 0.64% of its shares.
  • Home Credit starts offering its services in China.

2006

  • PPF banka a.s.’ final results for 2005 are confirmed: its net profit is CZK 294.4 million (based on Czech financial reporting standards).
  • PPF Group and Raiffeisen International Bank-Holding AG execute a contract on the sale of eBanka.
  • PPF Group completes the separation of Home Credit’s activities from Česká pojišťovna. The effective date of the separation is 1 January 2006.
  • Česká pojišťovna sells its 10% interest in the Modrá pyramida building society on 13 October.
  • Home Credit Group penetrates the Ukrainian market through the acquisition of two financial institutions – ZAO AGROBANK (current business name: OAO Home Credit Bank) and OOO Privat Kredit (current business name: OOO Home Credit Finance).

2005

  • PPF Asset Management a.s. (current business name: Generali PPF Asset Management a.s.) becomes the biggest asset manager in the Czech Republic in terms of the amount of assets under management, according to the data of the Capital Market Association.
  • PPF Group executes a contract with Sofinco S.A. on the sale of its 100% interest in ČP Leasing a.s.
  • The Prague operations of Penzijní fond České pojišťovny, a.s. are united with the Brno operations of Nový ČP Penzijní fond, a.s (formerly ABN AMRO Penzijní fond, a.s.). This marks the completion of the process of merging both companies.
  • The shareholders of Česká pojišťovna, a.s. approve the transfer of the ownership right to all shares of Česká pojišťovna, a.s. to the majority shareholder at an extraordinary general meeting.
  • The sole shareholder, Česká pojišťovna, a.s. decides in its capacity as the general meeting to divide Home Credit Finance a.s. on 1 August 2005. This gives rise to two new successor companies – Home Credit a.s. and HC Holding a.s.
  • Home Credit Group penetrates the instalment sales market in Kazakhstan. 

2004

  • 1 January 2004 is the relevant date for the merger (winding up) of PPF Capital Management a.s. with Euronews, a.s.
  • Auditor confirms Česká pojišťovna, a.s.’ net profit of CZK 3.1 billion for 2003.
  • PPF Group opens its office in China’s capital, Beijing.
  • The general meeting resolves to change the name of První městská banka, a.s. to PPF banka a.s.
  • PPF Group sells its majority interest in TV NOVA, becoming the second largest shareholder of CME.

2003

  • PPF Group changes its corporate identity and starts to use a new logo.
  • eBanka, a.s. adds Česká pojišťovna, a.s.’ counters and offices (more than 140 branches) to its points of sale.
  • Penzijní fond ČP, a.s. and ČP Penzijní fond, a.s. (formerly Commercial Union Penzijní Fond, a.s) merge by way of amalgamation, with Penzijní fond České pojišťovny, a.s. being the successor company.
  • General meeting of Česká pojišťovna, a.s. resolves to pay a dividend of CZK 1,178 per share.

2002

  • TV NOVA Group reports a consolidated profit of CZK 1.8 billion for 2002; CET 21 spol. s r.o., the licence holder, doubles its profit to CZK 540 million.
  • PPF Group starts its activity in Russia through Česká pojišťovna and Home Credit – selling life assurance and instalment sales products.
  • PPF Group acquires a (roughly 80%) interest in První městská banka a.s. (current business name PPF banka a.s.), effectively expanding its activities to the communal sector (communal financing etc.).
  • PPF Group joins TV NOVA through the acquisition of an interest in CET 21 spol. s r.o.; PPF Group assumes the responsibility for financial restructuring of the TV channel.

2001

  • Completion of the privatisation of Česká pojišťovna, a.s. – acquisition of 30.25% of Česká pojišťovna, a.s.’ shares from the National Property Fund and 10% from Komerční banka, a.s.
  • PPF becomes the majority owner of Česká pojišťovna, a.s. with a 93% interest in its share capital.

2000

  • Association contract between PPF and Česká pojišťovna Groups (in accordance with the amendment of the Commercial Code) executed in December, laying down the controlling relationships between PPF a.s., Česká pojišťovnoa, a.s., and ČP finanční servis a.s.
  • Acting in concert, majority shareholders in Česká pojišťovna authorise PPF a.s. to exercise the rights under the association agreement.

1999

  • Successful re-licensing of PPF burzovní společnost a.s. and PPF investiční společnost a.s.
  • PPF Group expands to the Slovak market – Home Credit Slovensko a.s. starts offering instalment sales products and services in the Slovak Republic.
  • Start of acquisition of Expandia Banka a.s. (later rebranded eBanka a.s.).

1998

  • PPF a.s. starts its operation.
  • PPF Consulting a.s. starts conducting business in portfolio investment management.

1997

  • PPF Group changes its strategy – switching from investments in the industrial sector to business and strategic investments in the field of financial services for the retail sector.

1996

  • PPF Groups acquires a major interest in Česká pojišťovna, a.s., initiates a process of internal restructuring at Česká pojišťovna, a.s., and starts to actively participate in the insurer’s management.

1995

  • The Registration Committee of the Prague Securities Exchange approves the registration of První český investiční fond a.s. The fund’s shares were continuously traded on the main security market.
  • Specialised companies, PPF majetková a.s. and PPF Capital Management a.s. are formed, whereby the Group expands its activity to real property management and strategic investments.

1994

  • PPF Group starts its activities in security trading and asset management.
  • PPF burzovní společnost a.s. starts offering the securities trader services (based on permission from the Ministry of Finance of the Czech Republic).
  • PPF burzovní společnost a.s. becomes a member of the Prague Stock Exchange and a special RM-Systém client in the first half of the year.

1993

  • Investment funds assume companies’ shares with a nominal value of CZK 4.9 billion in May. In terms of the number of investment points gathered, PPF Group ranks the sixth among Czech investment companies.
  • Two unit trusts are founded for the second wave of the coupon privatisation.

1992

  • In accordance with Act No. 248/92, PPF investiční společnost a.s. is formed and the names of funds change from ‘privatisation’ to ‘investment’.

1991

  • PPF Group launched its collective investment activities. Its core business is the formation and management of funds for collective investments in the period of the coupon privatisation.
  • The company founds 4 investment funds for the first wave of the coupon privatisation.