The consumer financing firm Home Credit has built up a loan portfolio worth P100 billion in the 12 years since its founding as industry disruptor in 2013.
This was learned from officials who told reporters that from a handful of only 33 customers that year, Home Credit has attracted and served customers numbering 12.2 million at the moment.
According to Zdenek Jankovsky, executive director and chief business development officer at Home Credit, the loan portfolio was worth P74 billion just last year.
He said this was made possible by operation of some 18,000 stores across the country from a single store in 2013, and by a handful of sales associates that now number 10,000.
Jankovsky also said the skyrocketing sales at Home Credit is driven in part the purchase of the popular iPhone that last year alone generated sales worrh P10 billion.
“This year that is going to double to P20 billion,” he said.
The exexutive said the company makes full use of the fact that 97 million Filipinos go online everyday and spend around nine hours each time, mostly by using mobile phones.
Five thousand smartphones are purchased everyday in the Philippines using the Home Credit app, he said.
The Philippines has also proven the fifth largest market for motorcycles and ebikes in the region, of which P4.5 billion worth were sold just last year.
India proved the largest market, followed by China, then Indonesia and finally by Thailand.
Jankovsky likewise said some P1.75 billion worth of devices purchased on credit were replaced by the company under the program called Wais Sa Home.
Thus far this year, P300 million worth of claims have been approved under the program that has attracted 3 million Filipinos.
These and other numbers prove that purchases using one’s credit is not bad as long as one is responsible, Sheila Paul, chief marketing officer at Home Credit, said.
