Citi and Home Credit PH signed a P420-M loan agreement

by Janine Mayers · Published September 1, 2022 · Updated February 13, 2024

17 May 2022

A social loan agreement worth 420 million pesos has been signed between HC Consumer Finance Philippines Inc. (Home Credit) and Citibank (Citi), with the goal of assisting the Philippines in achieving greater financial inclusion.

This loan agreement ought to be beneficial for customers who are interested in making purchases of mobile devices in the Philippines.

Jean Lafontaine, the head of Funding, M&A, and Investor Relations for Home Credit Group, stated that “This loan facility is part of Home Credit’s deliberate strategy to pursue innovative and sustainable funding options for our business while working to deliver sustainable, responsible financial services and products in the developing market, with the goal of empowering our customers to live better lives.” Home Credit is working to deliver sustainable, responsible financial services and products in the developing market, with the goal of empowering their customers to live better lives.

Home Credit provides many Filipinos with their very first encounter with credit when they allow them to borrow money at the “point-of-sale.” This all-inclusive loan was designed with women in mind, as they account for approximately half of Home Credit’s total borrowers.

According to Home Credit, the facility is a social loan that will be monitored on a quarterly basis through a certification that describes the “mobile-point of sale” portfolio for key performance indicators (KPIs). These KPIs include the number of newly financed digital devices and the percentage of female borrowers.

This summer, Home Credit is offering a promotion in which there will be no interest charged.

“It is with great pride that I can say that the loan’s measured key performance indicators (KPIs) will be of particular assistance to our female customers. Today’s announcement marks the beginning of a new chapter in Home Credit’s history in the Philippines. The combination of secure access to responsible financial services and technological advancements has the potential to have a profoundly positive impact on the lives of Filipinos all over the country “according to the President and Chief Executive Officer (CEO) of Home Credit Philippines, David M.