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UnionBank extends 7 billion peso loan facility to Home Credit

MANILA, Philippines – Leading consumer credit provider Home Credit Philippines has signed a 7 billion peso credit facility with Union Bank of the Philippines, led by Aboitiz, as part of its commitment to provide comprehensive financial opportunities to more Filipinos.

Zdenek Jankovsky, treasurer of Home Credit Philippines, said their company considers the tie-up to be important not only for the company, but especially for Filipino customers.

“Following our turnaround operations in 2021, this installation represents continued confidence in Home Credit’s omnichannel distribution model that incorporates 24-hour offline and online access,” Jankovsky said.

In addition to Jankovsky, the other signatories to the agreement were Home Credit Philippines CEO David Minol and Home Credit Group CEO Jean Pascal Duvieusart, as well as UnionBank Commercial Banking Center Manager Roberto Abastillas and the Director of Union Bank’s Commercial Banking Group, Erika Sykat.

Other UnionBank officials including Treasurer Jose Emmanuel Hilado, Consultant Beatriz Romulo, Commercial Director Honeylee Regala, Relationship Manager Mary Ann Claire Salazar and Sales Director Jose Maria Roxas attended the signing ceremony held on April 4.

“This significant funding from UnionBank ensures that we can continue to pursue our mission of consistently becoming the lender of choice to underserved sectors that need access to reliable and regulated sources of funding,” Jankovsky said.

The agreement enables Home Credit Philippines to provide more Filipinos with financial accessibility and inclusion through the brand’s intuitive and affordable loan products.

The bank run by Aboitiz is now Home Credit’s largest credit partner in the country.

Abastilles said UnionBank is always happy to partner with companies such as Home Credit, which shares the bank’s mission to promote financial inclusion in the Philippines.

“At UnionBank, enabling inclusive prosperity is also part of our corporate DNA. And we still believe that supporting brands that have the same commitment can help us fulfill our financial inclusion mandate,” said Abastilles.