Home Credit Group does not intend to proceed with Velvon Germany

Home Credit Group B.V., the holding company for the leading global consumer finance lender, today announces that it no longer intends to proceed with the Velvon online banking project in Germany. Home Credit Group has re-evaluated the project and has determined that it does not support its renewed strategic focus on building long-standing relationships with customers in its core, high-growth markets. The Group will therefore wind down Velvon’s operations in the coming weeks.