Czech Home Credit allegedly eyes Polish consumer finance Zagiel.

By bne IntelliNews October 13, 2010
Czech financial group Home Credit of billionaire Petr Kellner allegedly considers buying Polish consumer finance company Zagiel, Polish daily Puls Biznesu reported. Home Credit is reportedly already leading sale negotiations with Zagiel's parent KBC. According to some media speculations, after acquiring Zagiel, Home Credit would try to buy a bank in Poland or at lest gain a banking licence there. Home Credit recently tried to buy Polish Meritum Bank, but lost in favour of EBRD. Home Credit Group, which provides consumer loans in the Czech Republic, Slovakia, Russia, Belarus and Ukraine, increased its net profit 6.3 times y/y to EUR 126mn (CZK 3.1bn) in H1 from EUR 20mn a year ago. Zagiel specialises in quick loans.

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