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July 14, 2024

Home Credit taps UnionBank for P7B credit facility

Leading consumer finance provider Home Credit Philippines has tapped Union Bank of the Philippines led by bankero Edwin Bautista for a P7 billion credit facility to provide comprehensive financial opportunities to more Filipinos.

The two-year facility makes the Aboitiz-led UnionBank the largest credit partner of the global consumer finance provider in the Philippines.

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

Home Credit Philippines corporate treasurer Zdenek Jankovsky said the company considers the 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,” Jankovsky said.

Jankovsky added the large funding from UnionBank ensures that Home Credit can continuously carry on its mission of consistently becoming the lender of choice of underserved sectors who need access to trustworthy and regulated sources of financing.

For his part, UnionBank Center Head Roberto Abastillas said the listed bank is always excited to partner with companies such as Home Credit who share the bank’s 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,” Abastillas said.

Aside from Jankovsky and Abastillas, also present during the signing ceremony last April 4 were Home Credit Group CEO Jean Pascal Duvieusart, Home Credit Philippines CEO David Minol as well as UnionBank executives led by VP-Combank Group Head Erika Sykat, SEVP-Treasurer Jose Emmanuel Hilado and Consultant Beatriz Romulo.