ONEXIM Group takes ownership of Renaissance Credit
Last week, the Bank of Russia gave its consent for Onexim Holdings Limited to purchase 50% + ½ share of Renaissance Capital Investments Limited (RCIL), which then owned 89.52% of Renaissance Credit shares. After all documents relevant to the completion of the transaction had been signed and shares had been transferred, ONEXIM Group took ownership of Renaissance Credit.
"We are pleased to announce the completion of the ownership change, which is an important event in the history of our bank. Ten years ago, we, together with the Bank's former shareholder, decided to enter the promising and highly profitable Russian consumer lending market. Within this period of time, we managed to become one of the market leaders. We are confident that Renaissance Credit will continue to grow rapidly under ONEXIM Group's control," commented Alexey Levchenko, Chief Executive Officer of Renaissance Credit.
"Having received approval from the Bank of Russia, we have completed all of the regulatory and legal procedures required for the transfer of Renaissance Credit to ONEXIM Group's control," explained Dmitry Razumov, Chief Executive Officer of ONEXIM Group. "Renaissance Credit is showing excellent financial results, while continuing to increase its business volume, generating stable, high income and meeting its obligations. Moving forward, the bank has set ambitious goals and objectives, which we fully support."
About Renaissance Credit
Founded in 2003, Renaissance Credit is a leading consumer lending institution offering consumer loans, credit cards and deposits to 5 million customers across Russia.
Renaissance Credit is a trademark of CB Renaissance Capital (LLC). Banking licenses ¹3354 issued by the Central Bank of Russia.
Credit ratings: B, Positive (S&P) / B2, Stable (Moody’s) / B, Stable (Fitch).Renaissance Credit's primary shareholder is ONEXIM Group, one of Russia's largest private investment funds.