EEMEA market round-up: Three Ukrainian banks acquired by Czech financial group

Czech financial group PPF Group has bought three banks in Ukraine – PrivatInvest, PrivatKredit and Bank Agrobank – paying $18 million for the PrivatInvest acquisition.

PPF owns consumer finance operations in several countries in central and eastern Europe, including its domestic market, Slovakia, Russia and Kazakhstan.

“Usually, we would start with greenfield operations, but deals like RZB’s acquisition of Aval have changed the market and mean that we needed a headstart,” Robert Potac, head of PPF Group funding, tells Euromoney.