UnionBank extends P7 billion loan facility to Home Credit

MANILA, Philippines — Leading consumer finance provider Home Credit Philippines has signed a P7 billion credit facility with Aboitiz-led Union Bank of the Philippines as part of its commitment to provide comprehensive financial opportunities to more Filipinos.

Zdenek Jankovsky, treasurer at Home Credit Philippines, said their company considers the tie-up important not only to the business, but most especially for Filipino customers.

“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,” Jankovsky said.

Aside from Jankovsky, other signatories to the agreement were Home Credit Philippines CEO David Minol and Home Credit Group CEO Jean Pascal Duvieusart, as well as UnionBank commercial banking center head Roberto Abastillas and Union Bank commercial banking group head Erika Sykat.

Other UnionBank officials, including treasurer Jose Emmanuel Hilado, consultant Beatriz Romulo, business manager Honeylee Regala, relationship manager Mary Ann Claire Salazar, and sales director Jose Maria Roxas witnessed the signing ceremony held last April 4.

“This large funding from UnionBank ensures that we can continuously carry on the mission of consistently becoming the lender of choice of underserved sectors that need access to trustworthy and regulated sources of financing,” Jankovsky said.

The agreement allows Home Credit Philippines to provide more Filipinos with financial accessibility and inclusion across the brand’s intuitive and affordable loan products.

The Aboitiz-led bank is now the largest credit partner of Home Credit in the country.

Abastillas said UnionBank is always excited to partner with companies such as Home Credit, which shares the bank’s mission to promote financial inclusion in the Philippines.

“At UnionBank, enabling inclusive prosperity is part of our company’s DNA, too. And we always believe that supporting brands that have the same commitment can help us fulfill our financial inclusion mandate,” Abastillas said.