In a recent statement, CIMB Bank Philippines, Inc. disclosed that its revolving credit line, GCredit, available on GCash, has successfully reached two million customers in April.
In an effort to improve accessibility and alleviate financial burden, GCredit raised its credit limit from P30,000 to P50,000, while also reducing the minimum amount due to 10% of customers’ principal balance from 15%, as stated in a press release.
Bankero Vijay Manoharan, CEO of CIMB, expressed the bank’s commitment to providing convenient and valuable financial solutions, with GCredit serving as a testament to this mission.
The partnership with GCash not only drives financial inclusion but also enables GCredit to be more accessible to Filipinos.
Meanwhile, Bankero Martha Sazon, President and CEO of GCash, emphasized that these enhancements will reduce financial stress and offer flexible terms that customers have come to associate with GCash.
CIMB further highlighted that GCredit can be activated without the need for income documents, allowing it to be utilized for cashless payments at all GCash QR-accepting merchants, bill payments, and online purchases from selected e-commerce merchants.
GCredit, powered by CIMB since April 2021, has contributed to CIMB Bank’s assets amounting to P30.258 billion by the end of last year, according to data from the central bank.