Home Credit Grows Threefold in 2017

Prague-based finance technology (FinTech) company Home Credit Philippines (HCPH) has reported a threefold year-on-year growth in receivables in 2017, capping a landmark year that saw HCPH double its customer base from one to two million, and expand its operations nationwide.

Ever since its entry into the Philippines in 2013, the company—which partners with leading retailers and manufacturers to provide in-store financing for smartphones and goods—has enjoyed continuous growth in sales. From modest sales of P29 million in 2013, Home Credit’s revenues had grown to P4 billion in 2016, and grew further to P14 billion in 2017. The company now has a 2.5 million Filipino customer base, of which more than 1.5 million have active loans, with receivables of P14 billion as of the end of 2017.

For this year, HCPH has already signed more than 800,000 new loans. Its highest performing month so far this 2018 is April where it yielded more than 190,000 new active loans.
HCPH’s results come after four years of “heavy investing” in the Philippines since opening shop in Manila in 2013, as HCPH beefed up its IT infrastructure, expanded its offices and call centers, and grew its workforce to over 9,000 employees. According to HCPH chief executive Annica Witschard, the company’s performance in 2017 is their new benchmark for what is already considered a steep rate of growth in the local consumer finance industry.
“From day one, our mindset was to grow big and grow fast, while changing the landscape with our financially inclusive products,” Ms. Witschard said, noting that Home Credit caters to unbanked as well as first-time borrowers. “Our remarkable growth and expansion in 2017 tells us that we are on track in achieving our goals. And our results in 2017 tell us that our business strategy is an effective one,” she added.
The company’s steady growth has recently earned the recognition of the International Finance Magazine (IFM) which named HCPH as the fastest growing consumer finance company in the Philippines.

IFM Awards is an event that recognizes and honors individuals and organizations that make significant contributions to the international finance industry.
HCPH chief finance officer Zdenek Jankovsky said the company’s robust sales, effective risk and cost management, and funding have played key roles in HCPH’s business performance.
“We’ve been successful in leveraging our strengths, especially in risk mitigation, sales, and funding, while applying best practices from Home Credit Group’s more than twenty years of experience globally,” Jankovsky said. “In the process, we were able to get the attention of industry stakeholders as well as the trust and support of our banking partners.”

Last year, HCPH obtained a syndicated loan worth P2.25B which was used to support its expansion. The loan was arranged by Citi and was participated by some of the country’s largest banks, Union Bank of the Philippines, East West Bank, RCBC, Citi, and CTBC. Recently, the company raised additional funds to support its expansion in the Philippines from local banks, with banks like Veterans Bank and Landbank as some of its newest lenders.
More information on Home Credit Philippines is available at

Written by editorial team




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