Home Credit Philippines recently signed an agreement for an additional ₱7 billion loan facility with BPI. This deal makes BPI the company’s biggest creditor with a total of ₱13.5 billion combined credit line facilities.
This is the third loan credit facility extended to Home Credit by BPI. It follows a ₱1 billion facility in December 2022, ₱4 billion in August 2023, and an additional ₱1.5 billion in November 2023 from Robinsons Bank Corporation following its recent merger with BPI.
Home Credit Philippines has been a pioneer in financial inclusion efforts in the Philippines for more than a decade. The company has consistently provided innovative credit opportunities for Filipinos earning less than ₱20,000 a month.
But even with time, the company stands to meet all its financial commitments and sustain its growth in the market. Home Credit was also issued a double-A Issuer Credit Rating with stable outlook by PhilRatings in 2023.
HC Consumer Finance Philippines Inc., Home Credit Philippines’ corporate entity, was also acquired by Thailand’s Krungsri (Bank of Ayudhya PCL) and Japan’s MUFG (Mitsubishi UFJ Financial Group, Inc.) in June 2023.
Home Credit stands as the largest consumer finance company in the Philippines. As of the end of 2023, they’ve also served 10.4 million customers throughout the Philippines with a suite of accessible financing products.
