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Home Credit PH hits 1M customer mark, sets 2017 receivables target to PhP 11B
By Ciara Alarcon - on 5 Jun 2017, 1:08pm

Home Credit PH hits 1M customer mark, sets 2017 receivables target to PhP 11B

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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.