Home » Business » PPF experienced its first defeat in the era after Kellner. Even deeper scars are taken by Moneta’s boss

PPF experienced its first defeat in the era after Kellner. Even deeper scars are taken by Moneta’s boss


CEO of Monety Money Bank Tomáš Spurný
author: HN – Václav Jirásek

Thus, the Czechia has already experienced a successful uprising of minority shareholders. The event is all the more important because it complicates the effort to create a banking institution that would have the strength to stand up to the biggest players on the Czech market. But the game is not over yet.

The rebellion of the shareholders against the management took place at the General Meeting of Moneta Bank, which was to approve the purchase of Air Bank and other installment companies from the PPF Group family. The merger itself, which would create one of the largest Czech banks focused on consumer finance or loans for small and medium-sized companies, passed. There were objections that the price – almost 26 billion crowns – is too high given the assets and performance of Air Bank and other acquired companies, but an absolute majority of votes was found. After all, PPF has already secured this by buying almost a 30 percent stake in Moneta, so it did not need many allies when it was slightly above 73 percent.

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