Home Credit disburses P23.2 billion loans in first half

MANILA, Philippines — Loan disbursements of the Home Credit Group posted a double-digit growth,  hitting P23.2 billion in the first half and are expected to pick up further in the second half despite the series of interest rate hikes by the Bangko Sentral ng Pilipinas (BSP).

Home Credit Philippines CEO David Minol told reporters that the consumer finance provider booked its best performing first half ever as it processed 1.6-million loans worth P23.2 billion from January to June.

“Indeed it was a very successful first half of the year and the only what I can say that we do expect a very successful second half of the year. Comparatively, it has increased over the last year. I don’t have the exact number, but it’s a double double-digit increase year over year in the first half of last year,” Minol said.

Home Credit Philippines continues to expand its services to different sectors to bring Filipinos closer to the lifestyle they want as it empowers Filipinos by providing them with innovative products and solutions.

As a global consumer finance provider, the company 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 nine 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,” Minol said.

Since entering the country almost nine years ago, Home Credit has disbursed more than P178 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, the company 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.

Home Credit Philippines director and treasurer Zdenek Jankovsky said the consumer finance provider would absorb the series of interest rate hikes by the  Monetary Board over the past few months.