OREANDA-NEWS. On November 12, 2007 Home Credit B.V. (“HCBV”), the holding company of the Home Credit Group having operations in the Central and Eastern European as well as Central Asian consumer finance markets, announced that Mr Jiri Smejc, Chairman of the Home Credit & Finance Bank LLC [Moody?s Ba3/NP/D-, S&P B+/В] Board of Directors, will also act in the position of CEO taking over from Mr Paul Batchelor. Mr Smejc is hereby taking full operational control of the Russian business, reported the press-centre of Home Credit B.V.

Home Credit & Finance Bank is a franchise of Home Credit Group in the Russian Federation. Mr Jiri Smejc is one of the owners of PPF Group N.V., responsible for the overall Group's activities in Russia. The appointment of Mr Smejc as the CEO confirmed shareholders focus on the new HCFB's strategy: the conversion into a fully - fledged retail bank.