Consumer credit provider Home Credit Philippines has signed a two-year P7 billion credit facility with Aboitiz-led universal bank, Union Bank of the Philippines (UnionBank).
This agreement will enable Home Credit Philippines to provide more Filipinos with financial accessibility and inclusion across all of its lending products. This also makes UnionBank the largest credit partner in the Philippines of the global provider of consumer credit services.
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“Following our turnaround operations in 2021, this facility represents continued confidence in Home Credit’s omnichannel distribution model that incorporates 24-hour offline and online access,” said Zdenek Jankovsky, Treasurer of Home Credit Philippines. “This significant funding from UnionBank ensures that we can continue to pursue our mission to consistently become the lender of choice to underserved sectors that need access to reliable, regulated sources of funding.”
“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.