November 27, 2018 / 9:04 AM / 5 months ago

Richest Czech Kellner's PPF quarterly profit rises by 69 percent

PRAGUE, Nov 27 (Reuters) - Quarterly net profit at PPF Financial Holdings — owned by the richest Czech Petr Kellner — rose by 69 percent in the third quarter from a year ago, the group said in a regulatory filing released on Tuesday.

Profit rose to 177 million euros from 105 euros from a year earlier, PPF said. The privately-held company did not give a reason for the increase.

PPF’s unit, Home Credit Group, is in the process of selling Air Bank and other assets to Moneta Money Bank in a $883 million deal, one of the largest in the Czech banking sectors in recent years. (Reporting by Robert Muller, Editing by Michael Kahn)

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