Consumer loan provider Home Credit to serve 10M clients this year

MANILA  –Consumer finance provider Home Credit Philippines (HCPH) on Thursday said it was looking to serve 10 million customers in 2023, marking a major milestone in its nearly 10 years in existence.

“[We] aim to empower 10 million customers within 2023 and continue to serve more Filipinos in the years to come,” HCPH chief executive David Minol said in a statement.

At a separate press event on Thursday, Minol said the company, which offers various consumer and cash loans, has about 9.4 million customers to date.

HCPH has 15,000 partner stores across 75 provinces in the Philippines, according to its company profile. A popular offering is a product loan, a credit facility for buying gadgets, appliances, et al.

HCPH chief sales officer Puneet Suneja said more than 90 percent of Filipinos do not have access to ready credit, a problem that he said the company could help address.

“Home Credit has been able to provide the option to … Filipinos who do not have access to credit to buy anything, anytime, anywhere,” Suneja said during the same event.

He said more than 10.5 million mobile phones have been financed through the company since its inception in October 2013.

HCPH also offers accidental damage protection for devices and home furniture that it financed.

Suneja likewise touted fast cash loan approval and disbursement, which can be accomplished in one minute since it can be processed digitally.

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