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Home Credit Philippines eyes further growth with its acquisition by Thailand’s Krungsri, Japan’s MUFG
Leading consumer finance company Home Credit Philippines (“HC Consumer Finance Philippines, Inc.”) today announced its new shareholders following the completion of its acquisition by Krungsri (“Bank of Ayudhya PCL”), the fifth largest financial group in Thailand and Mitsubishi UFJ Financial Group (“MUFG”), a global financial leader from Japan.
The deal was completed with a base value of EUR 406 million (PHP 24.4 billion). The final consideration is subject to one-to-one adjustment based on the equity book value at closing of the transaction.
PPF Group the parent company of Home Credit Philippines based in Czech Republic sealed an agreement with MUFG and Krungsri to acquire Home Credit Philippines. Krungsri holds the majority stake of 75% and MUFG the remaining 25%.
“The acquisition of Home Credit Philippines is a testament to the strong business it has established in the country and the growth opportunity that Krungsri and MUFG have seen for the company to further expand and maintain its dominance in the local consumer finance market,” Minol added.
“I want to put on record, our congratulations to our colleagues at Home Credit Philippines for an incredible job well done,” said Home Credit Group CEO, Radek Pluhar. “Together, we have empowered nearly 10 million Filipinos to access the formal economy, via our innovative products and services. We are proud of these achievements and will be watching the company’s future growth with interest.”
The company has grown to become a market leader having the widest distribution network of more than 15,000 stores nationwide. This allowed Home Credit Philippines to acquire a growing customer base of almost 10 million as of date in its nearly 10 years of operations in the country.
Krungsri President and Chief Executive Officer Kenichi Yamato said, “With the acquisition of Home Credit in the Philippines, we have achieved another significant milestone in our ASEAN expansion strategy through the successful execution of our medium-term business plan. By incorporating Home Credit in the Philippines into its portfolio, the Bank aims to cater to the evolving financial needs of consumers with a full range of innovative consumer finance products and services. Building upon its strong presence in the high potential country, this acquisition further solidifies Krungsri’s position as a leading financial institution in ASEAN.”
“With the expertise and extensive experience, Krungsri, together with Home Credit, is well-positioned to capitalize on the growing demand for consumer finance solutions and reaffirms its commitment to providing suitable products and services that empower individuals and drive sustainable growth in the market.”
This transaction is set to bolster the business operations of Home Credit Philippines as it continues to provide more Filipinos access to credit while building on Krungsri’s expertise as one of Thailand’s finance leaders.
Home Credit Philippines is
expected to retain its brand and continue its usual operations under the same
local leadership team, with guidance from Krungsri. The company aims to further
grow its consumer finance portfolio as it synergizes with both banks.
Learn more about the latest updates of Home Credit by visiting
its official website www.homecredit.ph. Home Credit Philippines is
a financing company duly licensed and supervised by the Securities
and Exchange Commission (SEC) and by the Bangko Sentral ng Pilipinas (BSP).
June 5, 2023
Creators Of The Best-Selling Aqua Moisturizer Comes The Newest Brand That Lets You Achieve A Light, Soft Matte & Moisturized Skin, Aera 사랑 By iWhite Korea
iWhite Korea, the creators of the best-selling Aqua Moisturizer, recently introduced to the market Aera 사랑, a collection of skincare tools that lets you achieve light, soft matte & moisturized skin, Inspired by the philosophy that beauty is limitless and ever-evolving, AERA 사랑 shows love for all skin types . With its name derived from Hangul - the language spoken in South Korea - the collection combines the deep meaning of love regardless of difference.
Just like how the sky is filled with endless possibilities and beauty, AERA 사랑 is invoking limitless beauty and infusing it on their line-up.
Developed with an Air Light Formula to avoid that heavy feel, AERA 사랑 perfects the balance between that coveted Korean glow and matte skin with cloud skin. The AERA 사랑 brand covers all the essential steps in a Korean skincare routine, from its facial cleanser to its sun tints.
The AERA 사랑 Calming Gel Wash is a gentle and soothing facial cleanser formulated to remove deep-seated dirt as it nourishes your skin. It brightens dull skin and lightens dark spots. It’s made of Centella Asiatica extract and sea buckthorn for the calming and soothing effect, rice extract to hydrate, and Ginkgo biloba leaf extract and lemon extract for brightening and lightening.
If you need a more intense cleanser but still gentle enough to not strip or dry your skin, you can try the AERA 사랑 Pore Clean Foam Wash. It removes pore-blocking dirt and excess oil, tightens one’s pores, and improves overall complexion with continuous use. This is perfect for acne-prone skin or for anyone who wishes to say goodbye to their visible pores.
Next in line is the AERA 사랑 Pore Blur Whitening Moisturizer. Developed with Probiotic Complex and Niacinamide, the moisturizer can hydrate and improve overall skin complexion. It minimizes excess oils and tightens visible pores while leaving you with a fresh radiant glow.
Skincare brand AERA 사랑 also has BB creams: the Natural BB Sun Tint and the Light BB Sun Tint. Both variants give you a near-perfect complexion while providing UV protection. They are formulated with eight plant extracts with anti-inflamatory properties and a soothing effect to your skin, Niacinamide for brightening, and flower extracts to give you ample moisture.
AERA 사랑 has also taken into consideration your nighttime skincare routine with the All Night Whitening Repair Cream. Formulated with the Youth Restore Complex, it nourishes your skin as you sleep. It provides intensive moisture, gets rid of dullness and slows down aging.
All products from the AERA 사랑 lineup are cruelty-free, and come in affordable prices.
Experience cloud skin by trying out the whole collection in Shopee, Lazada, Tiktok Shop, and Watsons branches nationwide.
Follow AERA 사랑 in Facebook, Instagram and Tiktok for more exciting surprises coming
up very very soon!