STRONG DEMAND. Home Credit Philippines (HCPH) is looking to have a 10 million customer base this year, citing the recovery of demand from the pandemic. The company said it provides loans to customers amid higher interest and inflation rates in the country. (Logo taken from HCPH mobile app)
MANILA – Officials of consumer finance company Home Credit Philippines (HCPH) are optimistic about increasing the number of its customer base to 10 million this year, as they bank on the recovery of demand from the pandemic.
The company hit a milestone last year when its customer base reached 9.3 million after it expanded its services to more lifestyle segments and categories.
In a briefing to celebrate the company’s 10th year of operations in the country Thursday, HCPH chief executive officer (CEO) David Minol said they want more Filipinos to benefit from its offerings .
“More than delivering innovative and accessible financial services, we celebrate the relationships we have built with our stakeholders and customers over the past decade, and this we choose to continue above the beyond,” he said.
In a reply to questions from the Philippine News Agency, the company said it is hopeful to hit 10 million customers this year also “because of the continued strong demand from customers across the Philippines.”
While inflation remains high and among drags to spending, along with the rise of interest rates, HCPH said it “provide(s) opportunities for people to afford their needed products by allowing them to pay reasonable down payment and flexible payment terms to help them manage their funds.”
Asked about the rate of default among its borrowers, the company said “we maintain a healthy NPL (non-performing loan) ratio given our responsible lending practices.”
“We at Home Credit observed an improved loan payment behavior of Filipinos in the past 10 years,” it added.
HCPH chief customer relations management (CRM) officer Petr Lukosz said their cash loan offering is among the products targeted to help Filipinos become more financially capable.
“We pride this product as the most flexible cash loan offering in the market, tailored fit to customers’ needs, and having the fastest approval and disbursement in one minute,” he added.
To date, HCPH has around 15,000 partner stores around the country and has even tapped the digital space through its My Home Credit app. (PNA)
