March 1, 2017 / 7:29 AM / 5 months ago

Home Credit lender swings to profit in 2016

1 Min Read

PRAGUE, March 1 (Reuters) - Home Credit, which specialises in consumer loans in emerging markets, swung to a full-year profit of 210 million euros ($221.38 million), the Czech group said on Wednesday.

The company said its performance was helped by a more stable Russian market and sustained growth in Asia.

In 2015, the company, which is controlled by the richest Czech businessman, Petr Kellner, reported a 42 million euro loss.

Loan volume jumped by 76 percent year-on-year to 11.54 billion euros, while the ratio of non-performing loans (NPL) dropped to 6.1 percent last year from 10 percent in 2015.

Home Credit is the leading point-of-sale lender, providing finance for customers buying durable goods, in China, Russia, Vietnam and Philippines. ($1 = 0.9486 euros) (Reporting by Robert Muller, editing by Louise Heavens)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below