Home Credit sees customers growing to 10 M this year

Consumer finance company Home Credit Philippines aims to hit a customer base of 10 million this year, in line with its goal of providing access to credit to more Filipinos.

Home Credit Philippines (HCPH), the country’s leading consumer finance company, kicks off its 10th anniversary celebration with the goal of providing more Filipinos access to credit and reaching 10 million customers within 2023.

“As the company celebrates its decade-long service in the country this October, Home Credit continues to progressively expand its operations and provide customers with a complete ecosystem of products and service offerings suited to their individual needs and lifestyles,”the company said.

Home Credit closed 2022 with a customer base of 9.3 million.

“Our goal of a financially empowered Philippines comes true every year, one customer at a time. In our 10 years of service in the country, we aim to empower 10 million customers by the end of 2023 and continue to serve more Filipinos in the years to come,” Home Credit Philippines chief executive officer David Minol said.

“More than delivering innovative and accessible financial services, we celebrate the relationships we have built with our stakeholders and customers over the past decade, and this we choose to continue above and beyond,” he added.

Home Credit pioneered the buy now, pay later (BNPL) service in the country when it entered the Philippine market in 2013.

The company has since seen the need to expand its lifestyle offerings and finance solutions to better support the ever-evolving needs and demands of Filipinos in this new generation.

Aside from product loans, the company also offers existing customers with good payment histories the opportunity to avail themselves of Cash Loan, which helps them to be more financially capable.

To date, Home Credit has disbursed over 1.8 million cash loans to its customers, in which 90 percent of the contracts were signed digitally and 20 percent of the applications were processed through the My Home Credit App.

“Home Credit boasts of having the fastest cash loan approval and disbursement in one minute – the best in the market,”the company said.

It said that customers can enjoy the flexibility of the Cash Loan offers ranging from P3,000 to P150,000 and repayment terms from six to 48 months.

“Home Credit always aims to support Filipino consumers by being with them in their life situations and milestones. Our Cash Loan offering is another product we give to our existing customers to help them to be more financially capable. We pride this product as the most flexible cash loan offering in the market, tailored fit to customers’ needs, and having the fastest approval and disbursement in one minute,” Home Credit Philippines chief customer relationship management officer Petr Lukosz said.

Over the years, Home Credit has expanded to a robust 15,000 partner stores across 75 provinces in the country and has aggressively grown its online presence through the My Home Credit App.

The company has also forged partnerships with the country’s biggest brands and retailers, building a wide selection of 300 plus lifestyle commodities ranging from gadgets and smartphones, appliances and furniture, to bicycles and motorcycle accessories, sports equipment, and many more.