Home Credit Philippines signs additional 7B Loan Credit Facility with BPI

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Home Credit Philippines (HCPH) recently signed an agreement for an additional P7 billion loan facility with Ayala-led Bank of the Philippine Islands (BPI), making BPI the company’s biggest creditor with a total of P13.5 billion combined credit line facilities. 

(From left) BPI executives: John-C Syquia, Institutional Banking Head, and TG Limcaoco, President and CEO; Home Credit executives: Zdenek Jankovsky, Treasury and Funding Director, and Patrick Peter Santos, Head of Funding

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.

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.

“We 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—one family, one community at a time,” said BPI President and CEO TG Limcaoco.

“This 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’s business in the country as a leading consumer finance company,” Zdenek Jankovsky, HCPH director and treasurer, said.

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.  

“This local loan credit facility will enable us to better serve our 10-million strong customer base, allowing us to expand access to credit opportunities for more Filipinos,” Jankovsky added. 

Also in witness of the signing event were BPI officers and executives (from left): Micah Clemente, Relationship Manager; Barbara Untalan, Head of Top Corporates-MNCs and Sectors; Maria Teresa Anna Lim, Head of MNCs and Sectors and; and Grace Saulog, Head of Financial Institutions and Correspondent Banking; with Henry Segovia, Home Credit Funding and Business Development Manager.

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.

HC Consumer Finance Philippines Inc., HCPH’s corporate entity, was acquired by Thailand’s Krungsri (Bank of Ayudhya PCL) and Japan’s MUFG (Mitsubishi UFJ Financial Group, Inc.) in June 2023.  

To know more about the latest updates from Home Credit Philippines, visit its official website, www.homecredit.ph. You may also follow its official Facebook, Instagram, and TikTok accounts. Customers are also encouraged to download the My Home Credit App on Google Play to learn more about the latest promos and see what’s new in the Marketplace.

Home Credit Philippines is a financing company duly licensed and supervised by the Securities and Exchange Commission (SEC) and the Bangko Sentral ng Pilipinas (BSP).

BPI's App Now Officially Available to Huawei Users on AppGallery

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Bank of the Philippine Islands (BPI), has successfully onboarded its application on HUAWEI AppGallery, aiming for significant growth by reaching millions of new customers through digital channels.

In a joint effort towards enhancing the convenience of Huawei users and Filipino consumers, Huawei Philippines and Bank of the Philippine Islands (BPI) have collaborated to make BPI's services more accessible.

BPI's app joining HUAWEI AppGallery is a major move in embracing digital transformation. Huawei and BPI work together to simplify financial transactions. This partnership shows their dedication to making digital financial services more convenient, contributing to the evolution of Filipino consumer lifestyles.

“We are one with BPI as they continue their thrust to cater to every Filipino, since for Huawei, consumers are its ultimate driving force. Huawei ensures that its products, software, solutions, and applications meet the needs of its consumers. And this is why we are overjoyed to announce that the BPI app is now available in HUAWEI AppGallery. Now BPI can connect quickly and securely with more of their Filipino users online.

Huawei is committed to growing the AppGallery, adding more top and local apps to its repertoire which Filipinos can continue to enjoy. It is filled with fun, informative, and productive apps. And at the moment, it is the third-biggest app distribution platform globally with 580 million monthly active users,” said Peter Peng, CEO of Huawei Philippines, Consumer Business Group.

The BPI app on HUAWEI AppGallery helps Filipinos track and plan their spending for better financial management. This includes personalized recommendations using artificial intelligence (AI) that could offer financial advice, payment reminders or event actionable tips.

“Having the official BPI app on HUAWEI AppGallery allows users to enjoy all our features, enabling them to transact conveniently, efficiently, and securely wherever they are. This launch enables us to cater to more customers and continue to become their trusted financial partner. Our commitment is that the BPI app keeps getting better so they can expect more improvements to serve their evolving needs,” said Fitzgerald Chee, Head of Consumer Platforms, BPI.

“By strengthening our digitalization efforts, we are able to reinvent customer interaction and experience. The availability of the BPI app on HUAWEI AppGallery demonstrates how BPI constantly work towards providing a convenient and secure daily-use financial app, and how the bank supports inclusive online banking for Filipinos,” Chee added.

AppGallery is the official app platform for HUAWEI devices, one of the top global marketplaces with 180 billion downloads and 390 million monthly active users worldwide. It features a broad selection of apps for users in 170+ countries, including popular ones like TikTok, Viber, and other wallet/banking apps like GCash, Maya, Unibank, Metrobank, BDO, and more. And as the AppGallery expands, it continues to grow with a diverse selection of top local and global apps, providing users with a wide array of options for download. Huawei also prioritizes user security, ensuring privacy while providing diverse global and local applications for innovative experiences on various devices.

By the end of 2022, the number of monthly active users of Huawei Mobile Services (HMS) had exceeded 580 million, and the number of monthly active users of HUAWEI ID, AppGallery, and Quick App had surpassed 420 million, 580 million, and 170 million, respectively. More than 6.35 million developers worldwide have registered to join Huawei’s developer alliance, and over 228,000 apps have been integrated with HMS Core.

Join millions enjoying top-notch security on Huawei AppGallery and explore the BPI app on HUAWEI AppGallery for easy and efficient financial management with a simple tap!