Home Credit sees rebound in 2021 after non-performing loan (NPL) levels doubled and transactions plunged 50 percent in 2020.
In a press conference announcing the 8th anniversary of Home Credit in the Philippines, company treasurer and director Zdenek Jankovsk said the company expects to return to pre-pandemic levels in 2022 as business started picking up this year.
Jankovsk said from P51 billion in 2019, volume of transactions fell to P23 billion in 2020 but this has gone up to P28 billion as of September.
“We are well ahead of the 2020 but we are still behind 2019. I believe that in 2022 we will already be catching up, “ Jankovsk said
He said NPL more than doubled in 2020 from 7 percent in 2019 but he did not disclose the numbers.
“There were a lot of reasons for this primarily, of course, there’s just the economic situation, and also the we were disbursing loans in smaller volumes. As we are now in 2022, our non performing loans are less than half of than it was a year ago. In 2022, we will be back on our NPLas we were before the pandemic,” Jankovsk said.
From providing affordable installments for their gadget and electronic needs commonly known as “buy now, pay later” with presence in over 9000+ stores nationwide, it has also rapidly grown its mobile presence in the recent years through the My Home Credit App in Google Play Store which now has more than 9 million users, putting their total customer count to almost 8 million.
