Home Credit empowers 9m Filipinos
CONSUMER finance company Home Credit Philippines expands its services to different sectors to bring Filipinos closer to the lifestyle they want.
As a global consumer finance provider, Home Credit continues to find more opportunities to expand its services both online and offline by teaming up with more brands and retailers across key categories such as healthcare, fashion, beauty and fitness.
“Building on Home Credit’s heritage of delivering a broad range of financial products and services, Home Credit Philippines has enabled almost 9 million Filipinos nationwide to access credit opportunities. As the needs of our consumers continue to evolve, we commit to supporting them as we build a more financially resilient Philippines,” said HCPH chief executive David Minol.
Solid progress
Since entering the country almost nine years ago, Home Credit has disbursed more than P178 billion worth of loans to Filipinos across segments, including the services, education and health sectors. Now, Home Credit has evolved into a one-stop ally to millions of Filipinos.
Over the past years, Home Credit has expanded its network to a robust 10,000 retail partners nationwide, aggressively grew its online presence and forged partnerships with the biggest brands.
The company focused on advocating financial literacy, which is also in line with Home Credit’s thrust of championing the environment, social and governance programs.
It closed its first ESG-linked credit facility with Deutsche Bank in December 2021 amounting to P1.2 billion. The facility provided women and first-time borrowers with expanded credit access and supported financial literacy programs. It also supported the company’s digitalization efforts, which then enabled Home Credit to provide 60 percent of its loan via digital channels.
Earlier in May this year, Home Credit pioneered a P420-million social finance facility, which was increased to P820 million, with Citi. The facility supported Home Credit’s customers in purchasing basic digital devices—half of the loan goes to women, who make up 50 percent of Home Credit’s customers.
The company closed a P7-billion two-year credit facility with Union Bank of the Philippines to provide comprehensive financial access to more Filipinos. The agreement allows Home Credit to provide more Filipinos with financial accessibility and inclusion across the brand’s intuitive and affordable loan products
“Financial inclusion has always been at the heart of how we approach business. Ensuring that we are able to provide tailor-fit solutions to our customers’ particular circumstances has been vital in our goal of bringing financial opportunities closer to more Filipinos,” said HCPH director and treasurerZdenek Jankovsky.