Iconic MNL

Philippines' leading lifestyle portal.

  • HOME
  • FEATURED
    FEATUREDShow More
    Redmi Note 14 Review
    Redmi Note 14 Review: Affordable Smartphone with Impressive Features
    Celebrate Love Month at Pico Sands Hotel
    Celebrate Love Month at Pico Sands Hotel: A Romantic and Family-Friendly Escape
    February 18, 2025
    Park Inn by Radisson North Edsa Deluxe Room
    Park Inn by Radisson North Edsa: A Perfect Urban Getaway
    January 27, 2025
    Celebrating My Birthday in Style at Lanson Place Mall of Asia
    Celebrating My Birthday in Style at Lanson Place Mall of Asia
    January 25, 2025
    How Sylvester Sy Transformed His Passion for Photography into Inspiring Content Creation
    How Sylvester Sy Transformed His Passion for Photography into Inspiring Content Creation
    February 4, 2025
  • LATEST NEWS
  • TECH
    • DIGITAL TRENDS
    • SMARTPHONES & TABLETS
    • DESKTOPS & LAPTOPS
    • WEARABLES
    • PERIPHERALS
    • MONITOR
    • GAMING
    • APPLIANCES
    • AUTOMOTIVE
    • TELCO
    • TECH REVIEW
  • LIFESTYLE
    • TRAVEL
      • ACCOMMODATION
      • FLIGHTS
    • SHOPPING
    • FINANCE
      • FINTECH
      • REAL ESTATE
    • FOOD + DRINKS
    • FASHION
    • ENTERTAINMENT
  • HEALTH & WELLNESS
    • FITNESS
    • BEAUTY
    • HAIR
    • TREATMENTS
  • CONTACT
Notification Show More
Font ResizerAa

Iconic MNL

Philippines' leading lifestyle portal.

Font ResizerAa
  • HOME
  • FEATURED
  • LATEST NEWS
  • TECH
  • LIFESTYLE
  • HEALTH & WELLNESS
  • CONTACT
Search
  • HOME
  • FEATURED
  • LATEST NEWS
  • TECH
    • DIGITAL TRENDS
    • SMARTPHONES & TABLETS
    • DESKTOPS & LAPTOPS
    • WEARABLES
    • PERIPHERALS
    • MONITOR
    • GAMING
    • APPLIANCES
    • AUTOMOTIVE
    • TELCO
    • TECH REVIEW
  • LIFESTYLE
    • TRAVEL
    • SHOPPING
    • FINANCE
    • FOOD + DRINKS
    • FASHION
    • ENTERTAINMENT
  • HEALTH & WELLNESS
    • FITNESS
    • BEAUTY
    • HAIR
    • TREATMENTS
  • CONTACT
Follow US

Home - FINANCE - Home Credit Philippines eyes further growth with its acquisition by Thailand’s Krungsri, Japan’s MUFG

FINANCE

Home Credit Philippines eyes further growth with its acquisition by Thailand’s Krungsri, Japan’s MUFG

By Iconic MNL
Published: June 7, 2023
Share
5 Min Read
Home Credit Philippines acquired by Thailands Krungsri Japans MUFG
Home Credit Philippines acquired by Thailands Krungsri Japans MUFG
SHARE

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 the 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%.

“We are pleased to announce the handover of Home Credit Philippines to our new shareholders Krungsri and MUFG, both market leaders in the financial industry. Together with our new shareholders, we are opening the next chapter for Home Credit Philippines, building on the high performance that we have set over the past nine years. We are optimistic of our future together,” shared David Minol, Home Credit Philippines’ CEO.

“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 the 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).

Related

Share This Article
Facebook Copy Link Print
Share

Stay Connected

FacebookLike
XFollow
PinterestPin
InstagramFollow
TiktokFollow
Google NewsFollow

Latest News

Tomatito Sexy Tapas Bar by The Bistro Group Brings a Taste of Spain with a Contemporary Twist
Tomatito Sexy Tapas Bar by The Bistro Group Brings a Taste of Spain with a Contemporary Twist
FOOD + DRINKS
July 3, 2025
Podium Social Opens at The Podium
Podium Social Opens at The Podium: Ortigas’ Newest Elevated Dining Destination
FOOD + DRINKS
July 3, 2025
7-Eleven Day Celebrates Its Annual Big Five-Day Birthday Blowout
7-Eleven Celebrates Its Annual Big Five-Day Birthday Blowout
LATEST NEWS
July 3, 2025
GoGo Xpress Celebrates Filipino Entrepreneurs Through BOSSes ng Bayan Campaign
GoGo Xpress Celebrates Filipino Entrepreneurs Through BOSSes ng Bayan Campaign
LATEST NEWS
July 2, 2025
SB19 with Andrew Hou and Jason Chen
Acer Remains the Undisputed PC Market Leader in the Philippines in 2025
LATEST NEWS
July 2, 2025
Manulife and Erwan Heussaff Promote Environmental Conservation and Sustainable Livelihoods in Quezon Province
Manulife and Erwan Heussaff Promote Environmental Conservation and Sustainable Livelihoods in Quezon Province
LATEST NEWS
July 2, 2025
SMHCC Appoints Rouel Guanzon as GM of Park Inn by Radisson Iloilo
SMHCC Appoints Rouel Guanzon as GM of Park Inn by Radisson Iloilo
LATEST NEWS
July 2, 2025
Compact flagship vivo X FE to land in Philippines
Compact flagship vivo X200 FE to land in Philippines
SMARTPHONES & TABLETS
July 2, 2025

Follow Us On Facebook

You Might Also Like

PayMaya
FINANCE

How to send funds from Paymaya to your GCash Account

June 25, 2024
Maya BSP DILG spearhead Paleng QR Ph Plus launch in Pasig City
FINTECH

Maya, BSP, DILG spearhead Paleng-QR Ph Plus launch in Pasig City

March 6, 2024
Lalamove users can now top up their wallet with Maya
FINTECH

Maya makes Lalamove deliveries more convenient and rewarding

February 14, 2024
Metrobank Online Time Deposit
FINANCE

Make your savings earn for you with Metrobank Online Time Deposit

June 16, 2024

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

Join 68K other subscribers

Quick Link

  • MY BOOKMARKS
  • CONTACT
  • PRIVACY POLICY
  • TERMS OF SERVICE

Top Categories

  • FEATURED
  • TRAVEL
  • DIGITAL TRENDS
  • TECH REVIEW
  • BEAUTY
Follow US
  • Homepage
  • About Us
  • Contact
  • Advertise
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?