Home Credit Philippines (HCPH) recently signed an agreement for an additional P7 billion loan facility with Ayala-led Bank of the Philippine Islands (BPI), making BPI the company’s biggest creditor with a total of P13.5 billion in combined credit line facilities. This is the third loan credit facility BPI has extended to HCPH, following a P1 billion facility in December 2022, P4 billion in August 2023, and an additional P1.5 billion in November 2023 from Robinsons Bank Corporation, following its recent merger with BPI.
Home Credit is the largest consumer finance company in the Philippines. As of end-2023, it has served 10.4 million customers nationwide through a selection of affordable and accessible financing products.
A Vote of Confidence from BPI
“We at BPI are committed to accelerating our efforts to elevate financial inclusion in the Philippines. We are glad to support Home Credit by providing tailored solutions to enable their financial inclusion initiatives to thrive, while at the same time improving the quality of life for Filipinos and enabling them to do more. This forms part of our vision to help build a better Philippines, one family and one community at a time,” said BPI President and CEO TG Limcaoco.
“This additional loan credit facility to Home Credit, extended by no less than BPI, the first bank in the Philippines and the Southeast Asian region, is a strong testament to the strong performance and stability of Home Credit’s business in the country as a leading consumer finance company,” said Zdenek Jankovsky, HCPH director and treasurer.
PhilRatings (Philippine Rating Services Corporation), a pioneer domestic credit rating agency, issued Home Credit Philippines a double-A Issuer Credit Rating with stable outlook in 2023, based on its overall creditworthiness, its ability to meet all its financial commitments, and its sustained market growth. “This local loan credit facility will enable us to better serve our 10-million strong customer base, allowing us to expand access to credit opportunities for more Filipinos,” Jankovsky added.
Home Credit Philippines has been at the forefront of broadening financial inclusion in the Philippines for more than a decade since it opened its doors in the country in 2013. It has continuously provided innovative credit opportunities for Filipinos, especially women, young people, and those earning less than 20,000 a month. Thailand’s Krungsri (Bank of Ayudhya PCL) and Japan’s MUFG (Mitsubishi UFJ Financial Group, Inc.) acquired HC Consumer Finance Philippines Inc., HCPH’s corporate entity, in June 2023.
To know more about the latest updates from Home Credit Philippines, visit its official website, www.homecredit.ph. You may also follow its official Facebook, Instagram, and TikTok accounts. Customers are also encouraged to download the My Home Credit App on Google Play to learn more about the latest promos and see what’s new in the Marketplace.
