{"id":61574,"date":"2024-02-21T07:26:00","date_gmt":"2024-02-20T23:26:00","guid":{"rendered":"http:\/\/www.upgrademag.com\/web\/?p=61574"},"modified":"2024-02-20T22:30:59","modified_gmt":"2024-02-20T14:30:59","slug":"home-credit-philippines-signs-additional-7b-loan-credit-facility-with-bpi","status":"publish","type":"post","link":"http:\/\/www.upgrademag.com\/web\/2024\/02\/21\/home-credit-philippines-signs-additional-7b-loan-credit-facility-with-bpi\/","title":{"rendered":"Home Credit Philippines signs additional 7B Loan Credit Facility with BPI"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Home Credit Philippines (HCPH) signed an agreement for an additional P7 billion loan facility with Ayala-led Bank of the Philippine Islands (BPI), making BPI the company\u2019s biggest creditor with a total of P13.5 billion combined credit line facilities.\u202f\u00a0<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This is the third loan credit facility extended by BPI to HCPH, following a P1 billion facility in December 2022, P4 billion in August 2023, and an additional P1.5 billion in November 2023 from Robinsons Bank Corporation; following its recent merger with BPI.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Home Credit is the largest consumer finance company in the Philippines. As of end-2023, it has served 10.4 million customers all over the country through a selection of affordable and accessible financing products.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cWe at BPI are committed to accelerating our efforts to elevate financial inclusion in the Philippines. We are glad to support Home Credit by providing tailored solutions to enable their financial inclusion initiatives to thrive and at the same time, improving the quality of life for Filipinos, enabling them to do more. This forms part of our vision to help build a better Philippines\u2014one family, one community at a time,\u201d said BPI President and CEO TG Limcaoco.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThis additional loan credit facility to Home Credit, extended by no less than BPI, the first bank in the Philippines and the Southeast Asian Region, is a strong testament to the strong performance and stability of Home Credit\u2019s business in the country as a leading consumer finance company,\u201d Zdenek Jankovsky, HCPH director and treasurer, said.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Home Credit Philippines was issued a double-A Issuer Credit Rating with stable outlook by PhilRatings (Philippine Rating Services Corporation), a pioneer domestic credit rating agency, in 2023 based on its overall creditworthiness and ability to meet all its financial commitments and sustain its growth in its market. \u202f&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThis local loan credit facility will enable us to better serve our 10-million strong customer base, allowing\u202fus to expand access to credit opportunities for more Filipinos,\u201d\u202fJankovsky\u202fadded.\u202f\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Home Credit Philippines has been at the forefront of broadening financial inclusion in the Philippines for more than a decade since it opened its doors in the country in 2013. It has continuously provided innovative credit opportunities for Filipinos especially to women, young people, and those earning less than 20,000 a month.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">HC Consumer Finance Philippines Inc., HCPH\u2019s corporate entity, was acquired by Thailand\u2019s Krungsri (Bank of Ayudhya PCL)\u202fand Japan\u2019s MUFG (Mitsubishi UFJ Financial Group, Inc.) in June 2023.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This is the third loan credit facility extended by BPI to HCPH, following a P1 billion facility in December 2022, P4 billion in August 2023, and an additional P1.5 billion in November 2023 from Robinsons Bank Corporation; following its recent merger with BPI.\u00a0<\/p>\n","protected":false},"author":6,"featured_media":61579,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[4672,96,2727,1656],"class_list":["post-61574","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-headlines","tag-home-credit-philippines","tag-technology","tag-technology-adaption","tag-technology-investment"],"_links":{"self":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts\/61574","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/comments?post=61574"}],"version-history":[{"count":0,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts\/61574\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/media\/61579"}],"wp:attachment":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/media?parent=61574"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/categories?post=61574"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/tags?post=61574"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}