July 2025 – Kinstellar has advised PPF Group and its shareholders on an agreement with ForteBank for the sale of 100% of Home Credit Bank Kazakhstan and its associated businesses. The terms of the transaction remain undisclosed and the deal is subject to customary regulatory approvals in Kazakhstan.
Home Credit has been active in Kazakhstan since 2005, marking the fourth market entered by PPF Group's financial services subsidiary, following its establishment in the Czech Republic in 1997. Since its inception in Kazakhstan, Home Credit has operated as a fully licensed bank specialising in consumer finance and has been a long-standing leader in the point-of-sale (POS) loan segment.
ForteBank is a leading player in Kazakhstan's banking and financial services sector. Established in 2015, it is listed on the Kazakhstan Stock Exchange (KASE).
Kinstellar provided comprehensive legal support throughout the transaction—from structuring the acquisition to negotiating the final terms.
The Kinstellar team included Partner Kuanysh Shekerbekov, supported by Associate Zhandaulet Sholanov, advising on Kazakh law aspects. Partner Hugh Owen and Associate James Merryweather advised on English law matters.