Non-bank lending firm Home Credit is optimistic of raising its lending portfolio to P100 billion by the end of the year, improving from P85 billion recorded as of end-June.
Sheila Paul, Home Credit chief marketing officer, said the company has been successful in expanding its reached with customers now around 12.2 million as of August, compared to 11 million last year.
“So you can see the growth in the market,” he pointed out during the company’s press event Thursday .
Paul added that the company had made strides in expanding its business, with the company now having 18,000 partner stores.
Paul said Home Credit enjoys manageable uncollected debts of below 10 percent, which for a non-bank lending firm, is acceptable.
In a statement, Home Credit said that it has become “a trusted leader” in consumer finance in the Philippines since setting up shop in 2013.
“This milestone reflects the company’s unwavering commitment to making its credit solutions more accessible, especially for everyday needs,” it said.“Reaching 12 million customers is more than just a number—it’s a reflection of the trust Filipinos have placed in us.”
Meanwhile, David Minol, Home Credit chief executive officer (CEO) for the Philippine said: “We’ve seen a significant increase in new customers compared to last year, driven by the growing demand for inclusive financing and the relevance and attractiveness of our offers.”
