Home Credit Philippines enters a new decade of providing credit opportunities for Filipinos

The country's leading consumer finance company is poised to supercharge growth, continuously meet the evolving needs of Filipinos in the next years, para sa lifeWith a track record of serving over 10 million customers and disbursing P320B worth of loans since its establishment in 2013, Home Credit Philippines (HCPH) ushers in a new decade with more innovative financial solutions and credit opportunities for Filipinos to empower them to live more rewarding lives.As the leading consumer finance company in the Philippines, marked by its 23 million and counting loan transactions, HCPH has and continues to meet and cater to the evolving needs of the Filipinos through diverse credit products and value-added services that offer financial solutions to a variety of demands: product installments, cash loan, credit card, and protect, its insurance solutions. "At the heart of Home Credit lies the mission of financially empowering Filipinos in every aspect and stage of their lives. Our innovative efforts to broaden our products and services over the years have helped us ensure that our customers have convenient access to credit when they need it most. Our milestones, more than anything, reflect our customers' trust in us. We express gratitude to all our customers who have placed their trust in us over the years. This support fuels our determination to continue expanding our business and leading the consumer finance market in the country," David Minol, Chief Executive Officer of HCPH, said. Strong funding for responsible lendingThe company's acquisition by Thailand's fifth biggest bank, Krungsri (Bank of Ayudhya PCL), and the largest bank group in Japan, Mitsubishi UFJ Financial Group (MUFG) has helped strengthen HCPH's drive to empower more Filipinos. These partnerships have allowed the company to access vast financial resources dedicated to promoting responsible lending in the country and leverage the expertise of its new shareholders to further enable its growth. Apart from Krungsri and MUFG, HCPH is also a trusted partner of a vast banking community that includes reputable local and international banks. Recently, HCPH signed its biggest creditor, Bank of the Philippine Islands (BPI), with a total of P13.5B in total combined credit line facilities. These funding lines or credit facilities with some of the biggest local and global financial institutions are poised to expand funding for Home Credit's range of solutions and services. "Home Credit's vast banking community signifies our strong performance and stability in the country as a leading consumer finance company. These partnerships give us more space to further expand credit opportunities and support financial inclusion.As we welcome a new decade of serving the Filipinos, we will continuously expand our availability and financial solutions, so that our customers can get the things they need to uplift themselves and their families." Minol added. Trusted partner for lifestyle productsOver the years, the continuous efforts of HCPH to strengthen its industry presence and reach more Filipinos nationwide, and the increasing trust of its customers also meant an increase in demand to finance more and more commodities and high-ticket items for its customers. What was initially just four commodities—smartphones, televisions and computers and laptops—grew and diversified to more than 80 types of commodities now, the widest selection for any consumer finance company in the country. Some additional commodities include tablets, e-bikes, motorcycle necessities, musical instruments, furniture, farming equipment and medical needs, among others. In the past years, the commodity with the most units sold by HCPH is mobile phones, with over 12 million units sold. In 2023 alone, the company facilitated installment financing of 12.5 million units of mobile phones worth P30 billion, with iPhone being the top brand sold, accounting for P6B worth in overall sales.Apart from mobile phones, HCPH has also financed three other top commodities over the years: televisions with 1.2 million units sold, computers and laptops with 900k units sold, and aircons with 500k units sold.These remarkable numbers are driven by the company's 0% interest deals across its product range, and its innovative efforts to provide its customers with a platform that gives them easy access to its products, deals, and locations of partners shops via mobile phones. Shoppingmall.ph, an online platform where customers can discover over 50,000 deals and select them from over 500 merchants, in three easy steps, gives customers the opportunity to look for the commodity they need, search for the best deals, and choose their preferred store from HCPH's more than 15,000 partner shops nationwide.As Home Credit enters a new decade, the company remains committed to its mission of empowering more Filipinos through more financial solutions, more store locations, more innovative technologies and more customer-centric services. It will continue to make credit opportunities more accessible and remain as every Filipino's financial ally, para sa life.*All data included in the article are as of May 2024PAID ADVERTORIAL