Consumer finance provider Home Credit Philippines has signed a P 7-billion two-year credit facility with Aboitiz-led universal bank, Union Bank of the Philippines (UnionBank).
This agreement will allow Home Credit Philippines to provide more Filipinos with financial accessibility and inclusion across the its loan products. It also makes UnionBank the largest credit partner in the Philippines of the global consumer finance provider.
“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 Zdenek Jankovsky, corporate treasurer, Home Credit Philippines. “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.”
“At UnionBank, enabling inclusive prosperity is part of our company’s DNA and we always believe that supporting brands that have the same commitment can help us fulfill our financial inclusion mandate,” said Roberto Abastillas, Union Bank of the Philippines.