Consumer finance company Home Credit is bullish about hitting double- digit growth in 2024 after a record breaking performance in 2023.
Puneet Suneja, chief sales officer of Home Credit Philippines, said the company has been growing more than 90 percent over the past two years, registering sales – or the value of products financed – of P60 billion in 2023.
David Minol, company chief executive officer, said Home Credit aims to attain a milestone 11 million customer base at the end of the year from 10 million as of 2023.
The company is set to introduce big-ticket consumer product, solar panels for residences worth up to P250,000, to make the switch to renewables more affordable. It will also start financing motorcycles following the launch of e-bikes to its products.
Home Credit Philippines will also roll out a QR code processing of loans for faster and seamless transaction for applicants.
Celebrating its 10th anniversary, Home Credit has disbursed P320 billion loans since 2013; processed 32 million loans to 10 million customers.
Half of loans disbursed in 2023, half or P30 billion are for mobile phones.
Cumulatively, 12.5 million mobile phones were purchased through Home Credit.
The company launched mid-March its zero interest campaign on air conditioners that led to a remarkable sales performance of 1,000 units per day.
With 14,000 employees, Home Credit has more than 80 commodities in 15,000 partner shops in 75 provinces nationwide.
