Home credit

Home Credit India completes 10 years in the Indian market – #10SaalBemisal

  1. With a focus on credit penetration and financial inclusion in India, since 2012, Home Credit India has served the aspirations of 15 million borrowers through over 50,000 outlets across the country.
  2. Home Credit’s strong digital transformation journey has helped customers and retailers embrace the online journey

Home Credit India (HCIN) – #10SaalBemisal campaign including 10 year logo unveiling

MUMBAI, SEPTEMBER 29, 2022 (GPN): Home Credit India (HCIN), a local arm of the international consumer credit provider, has this year ended 10 successful years in India as an RBI-regulated NBFC consumer. Committed to the Indian market and financial inclusion, Home Credit in its first decade has achieved over 15 million aspirations through reliable and affordable financial products and services.

After achieving this feat, Home Credit India is celebrating the momentous occasion with a campaign – #10SaalBemisal including the unveiling of a 10-year logo and a digital AV showing how Home Credit has grown from strength to strength with various milestones reached during its decade-long journey.

Home Credit’s focus on financial inclusion by enabling credit penetration across the country has enabled it to offer borrower-centric services and products such as Secure payment (payment holiday, no penalty for prepayment and insurance), 360 care (a holistic health service protection product) and Ujjwal EMI Card (the predefined credit limit digital card).

The outlet-led strategy over the past decade has given Home Credit a strong foothold in the Indian market, with a strong retail network of over 50,000 in over 600 cities. As the Phygital model becomes the renewed approach, the focus on digital-first strategy has enabled Home Credit customers and retail partners to self-integrate through the Home Credit app. Home Credit boosted its digital ecosystem through B2B partnerships, improving service reach and online integration. Half of HCIN’s customers now complete a full online journey, and metrics show those numbers are growing every day.

Commenting on the 10-year milestone, Mr. Ondrej Kubik, Managing Director, Home Credit Indiasaid, “Completing a decade of doing business in India and having served millions of borrowers is a testament to Home Credit’s commitment to India. In 10 years, we have served more than 50 million contracts, which clearly reflects the reliability and customer trust that the brand enjoys. Maintaining the great momentum would have been difficult without committed and supportive partners, employees and customers. In a rapidly changing environment, our goal remains the same: to empower people to live the life they want now. As we complete 10 years, we still have a long way to go and the zeal and momentum will be even greater to redefine the Home Credit brand, connect with consumers to fulfill their aspirations.

Alongside clients, as a responsible consumer lender, Home Credit promotes financial literacy to foster a culture of responsible borrowing in society at large. Financial education initiatives have led to the engagement of over 3 million people through the Paise Ki Paathshala microsite, blogs and social media campaigns.

Home Credit recently launched its first Sustainability Country Card 2021, codifying ESG principles in the business. The document defines the main pillars of sustainability as Financial inclusion or inclusive lending, financial literacy, digital empowerment and sustainable communities.

Main highlights at a glance:

  1. Borrowers served

Growth multiplied by 15 from 1 MN in 2015 to 10 MN in 2019 and 15 MN in 2022

  1. Serve the underserved

40% of Home Credit customers were first-time borrowers

  1. Digital loan

Growth from 2% in 2018 to 30% in 2021 (% of personal loans via digital channels)

  1. Zero interest

45% of our consumer loans are at 0% interest, thanks to partnerships with merchants and manufacturers

  1. PoS Touchpoints

50,000+ point-of-sale touchpoints in 625 cities for customers

  1. Financial Literacy

3 million people benefited of HCIN’s financial education initiative (Paise ki Paathshala) and social media engagements in 2021.