Now in its 9th year in the Philippines, leading consumer finance company Home Credit Philippines (HCPH) brandishes its milestone and commits to empowering more Filipinos and providing them with innovative products and solutions.
In a recent media roundtable briefing spearheaded by Home Credit Philippines’ Executives, HCPH revealed its plan to further expand 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 partnering 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,” shared HCPH’s Chief Executive Officer, David Minol.
“Home Credit, a leading consumer finance company with a wide global footprint, continues to ramp up its efforts in the Philippines. We empower close to 9 million Filipinos nationwide through our broad range of financial products and services delivered in a responsible way,” Minol added.
HCPH’s solid progress in financial inclusion
Since entering the country almost nine years ago, Home Credit has disbursed more than Php178 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, has aggressively grown its online presence, and has forged partnerships with the country’s biggest brands.
The company has focused on advocating financial literacy, which is also in line with Home Credit’s thrust of championing the environment, social, and governance (ESG) programs. Some of the initiatives that enabled the company to make financial inclusion a reality are:
- Home Credit closed its very first ESG-linked credit facility with Deutsche Bank in December 2021 amounting to Php 1.2 billion. This facility provided women and first-time borrowers with expanded credit access and supported financial literacy programs in the country. 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 Php 420 million social finance facility, which was recently increased to Php 820 million, with the country’s largest foreign bank Citi. This 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 Php 7-billion two-year credit facility with multi-awarded universal bank UnionBank 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
For his part, HCPH’s Director and Treasurer, Zdenek Jankovsky explained, “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.”
“Sustainability and responsible business have always been integral to Home Credit’s approach. By giving everyone the opportunity to access financial services, including those underserved, we help people improve their quality of life,” Jankovsky added.
He also highlighted the kind of culture Home Credit embraces, “We promote diversity, equity, and inclusion and we support women empowerment. 60% of Home Credit’s active cash loan customers are women. This shows that Home Credit creates initiatives that provide women access to financial freedom. Home Credit supports initiatives that empower Filipinos through its enabling CSR activities. We collaborate with institutions that help people at risk of social exclusion learn new skills and start microbusinesses.”
Meanwhile, Sheila Paul, Home Credit Philippines’ Chief Marketing Officer explained the spirit of ‘Para sa Life’ campaign.
“We definitely want to build a stronger relationship with our customers, to make them emotionally connected with us and show them that we can be their financial ally in many parts of their lives.”
“Para sa Life gave the brand a ‘face and feeling’. It also empowered over 13,000 employees showing them that they could be the brand ambassadors themselves. We really wanted to give them something that they can be proud of and show the world the efforts that they put through.”
“Home Credit has been championing financial literacy for the past years so that it can help Filipinos from different walks of life to be financially resilient.”
“At Home Credit Philippines, we see transformative communication as a way to effectively tell our story — the story of empowered Filipinos. The Para sa Life campaign did exactly just that as it encapsulated our promise of companionship in our customers’ life journey,” shares HCPH’s Chief Marketing Officer, Sheila Paul. “Being able to present our services and solutions in ways that closely speak to our consumers helps us continue championing a financially empowered and inclusive Philippines,” she added.
Home Credit Philippines is a financing company duly licensed and supervised by the Securities and Exchange Commission (SEC) and by the Bangko Sentral ng Pilipinas (BSP). To know more about Home Credit Philippines, visit their official website www.homecredit.ph.