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Home Credit PH welcomes three millionth customer

Home Credit, the Prague-based consumer finance company that has captured the attention of mallgoers and gadget lovers alike with its affordable in-store loans, has a very good reason to celebrate after it recently signed its three millionth customer.


Lucky winner Virginia and her husband Almer were in the process of applying for an in-store loan for a flat screen TV when HCPH surprised them on the spot. Home Credit Philippines’ Chief Executive Officer Annica Witschard and Chief Marketing and Product Officer Franchette Cardona were personally there to reveal the surprise and congratulate the “winning” customers who got 5,000php worth of GCs and the perk of having the rest of their loan waived. 

HCPH has come a long way since its establishment in Manila in 2013. From starting with less than 30,000 customers in its first year, the company quickly grew in the next few years, hitting the one million customer mark in 2017 before finishing the year with two million customers. A few more months later, HCPH’s customer base now stands at three million.

“We credit our success to the thriving market here in the Philippines. There is a strong demand for financially-inclusive products, and we are more than happy to cater to this demand by offering loans even to first-time borrowers and those without formal accounts,” Annica shared when asked about the company’s growth.

According to the latest data from Bangko Sentral ng Pilipinas, 77 percent of adults have no formal accounts such as savings accounts with banks. HCPH taps this group of consumers by making applying for an in-store loan easy even if they have no credit history. The customer simply needs to approach a Home Credit Sales Associate, provide two (2) IDs, and wait for ten minutes to process their application.

In addition, the company has also been rapidly expanding in terms of stores and the range of products it finances. It now has more than 4,000 stores and has a presence in more than 50 provinces and Metro Manila. In terms of product portfolio, Home Credit Philippines has also been actively expanding its lineup. In addition to mobile devices and gadgets, its roster also includes home appliances, hardware tools, e-bikes, musical instruments, and sporting goods.

When asked about their reaction for being named the three millionth first-time customers, Almer shared his happiness by saying, “Napaka-ganda ng Home Credit dahil napapaluwagan nila yung mga tao na hindi usually na-aafford na bumili ng ganitong mga bagay.” Virginia added, “Napakadali ng proseso. Biyaya talaga ito.” [Home Credit has a good program because it helps people who can’t usually afford to buy these things. The process is very easy. This is really a blessing.]

Besides in-store loans, the company also offers cash loans which, according to Annika, are used by some of the customers to start small businesses so they can make a better living for their families. Others use their cash loans to pay for other needs like school tuitions or finance house renovations.

“I am optimistic that there are more opportunities for growth for us. Home Credit Group has more than twenty years of global experience and we plan to continue applying this in the Philippines together with our own learnings from operating in the country,” she added.

When asked about future plans, she expressed that Home Credit Philippines’ progress proves that there is still so much room for growth here. She closes, “This is just the latest step in our journey; there are many more milestones up ahead,” she said.

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