Home Credit inks P7-B loan facility with UnionBank

Published April 7, 2022, 10:31 AM

by Bernie Cahiles-Magkilat

The country’s leading consumer finance provider Home Credit Philippines has signed a P7-billion two-year credit facility with multi-awarded universal bank Union Bank of the Philippines (UnionBank), to provide comprehensive financial access to more Filipinos.

The agreement will allow Home Credit Philippines to provide more Filipinos with financial accessibility and inclusion across the brand’s intuitive and affordable loan products.

The signing ceremony, which was held at UnionBank Plaza in Pasig City on April 4, was graced by Home Credit Group CEO Jean Pascal Duvieusart, Home Credit Philippines CEO David Minol, Corporate Treasurer Zdenek Jankovsky, UnionBank executives led by EVP-Combank Center Head Roberto Abastillas, VP-Combank Group Head Erika Sykat, SEVP-Treasurer Jose Emmanuel Hilado and Consultant Beatriz Romulo.

“We at Home Credit Philippines consider this partnership important not only to the business but most especially to our Filipino customers. After our turnaround operations in 2021, this facility represents sustained confidence in Home Credit’s omnichannel distribution model that integrates round-the-clock access offline and online,” said Home Credit Philippines Corporate Treasurer Zdenek Jankovsky.

“This large funding from UnionBank ensures that we can continuously carry on the mission of consistently becoming the lender of choice of underserved sectors who need access to trustworthy and regulated sources of financing,” he added.

The said transaction makes the Aboitiz-led UnionBank the largest credit partner in the Philippines of the global consumer finance provider.

UnionBank of the Philippines Center Head Roberto Abastillas said, “We are always excited to partner with companies such as Home Credit who share our mission in promoting financial inclusion in the Philippines. At UnionBank, enabling inclusive prosperity is part of our company’s DNA, too. And we always believe that supporting brands that have the same commitment can help us fulfill our financial inclusion mandate.”

Home Credit started operations in the Philippines in October 2013. It is part of Home Credit Group, a global consumer finance expert, with a leading presence across 13 countries in Central and Eastern Europe, Asia and North America