Home Credit PH hits 1M customer mark, sets 2017 receivables target to PhP 11B
After reaching the one millionth customer milestone last month, Home Credit Philippines (HCPH) is now aiming to achieve more than double its total receivables from PhP 5.4-billion to PhP 11-billion this year.
“By all indications, considering our rapid growth in both customer base and geographic reach, the PhP 11-billion receivables target is doable,” HCPH CEO Annica Witschard said. “The demand for affordable, alternative financing from Filipinos is undeniable and as a fintech company, we are more than happy to address this demand.”
Witschard also cited data from the Bangko Sentral ng Pilipinas (BSP), stating that 86% of Filipino households are unbanked, and a World Bank survey that shows more than 95% of Filipinos do not have a credit card.
Meanwhile, HCPH is also set to increase its workforce from 5,600 to 7,000 this year to support their rapid geographic expansion.