The PPF Group, owned by Renáta Kellnerová, the richest woman in the Czech Republic, and her daughters, sold Home Credit Bank Kazakhstan and IT company HomeITTech for €436 million. However, in its 2025 financial statement, the group reported losses related to the transaction, according to the «Manual Economy» Telegram channel.
«Renata Kellnerova’s PPF Group received €436 million for two Kazakh assets: the red-and-white bank and HomeITTech. This amounts to approximately 257 billion tenge at the average euro exchange rate for 2025. This is close to ForteBank’s reported figure of 273.8 billion tenge, although the difference may be explained by exchange rate fluctuations and the gradual sale of shares,» the channel said in a post.
At the same time, the Czech group reported a loss from the sale of the bank and the IT company in Kazakhstan.
According to the company, although the sale of Home Credit India and Home Credit Bank Kazakhstan generated positive cash flow, it resulted in an accounting loss for the group, contributing to a significant decline in profit compared to 2024.
The proceeds from the sale of the two Kazakhstani assets amounted to €436 million, while the value of the disposed net assets totaled €408 million. Accumulated foreign currency translation losses related to foreign operations prior to the loss of control amounted to €168 million. As a result, the total loss from the sale of the two subsidiaries reached €140 million.
PPF Group’s net profit for 2025 amounted to €692 million. The group is currently focusing on operations in the Czech Republic, Slovakia and several other countries.
PPF Group and ForteBank, owned by Bulat Utemuratov — Kazakhstan’s third-richest businessman, with an estimated net worth of $5.4 billion — agreed to the deal involving Home Credit Bank Kazakhstan in June 2025. The transaction was finalized in December 2025.
Renáta Kellnerová and her family ranked first on Forbes’ list of the Czech Republic’s richest people in 2025, with an estimated net worth of $18.1 billion. She assumed control of PPF Group following the death of her husband, billionaire Petr Kellner.
