LONDON, November – Home Credit recently was honored and awarded by the Global Banking & Finance Review the award “Best Consumer Finance Company China 2017”.
It is the first time Home Credit winning this award from Global Banking & Finance Review. The awards honor companies standing out in particular areas of expertise in the banking and finance industry. Home Credit was selected as the best consumer finance company in China for its continued endeavor to provide inclusive consumer finance to Chinese consumers and to co-build a consumer finance industry that customers, partners, communities and the country can easily benefit from.
Founded in 1997, Home Credit B.V. is a world leading consumer finance provider with operations in Central Eastern Europe, CIS countries, Asia and United States. PPF Group, the parent company of Home Credit, is one of the largest investment groups in Central and Eastern Europe, with business activities in Europe, Russia, Asia and the USA. As of Q1, 2017, Home Credit B.V. operates in 11 countries, with more than 130,000 employees who have served over 76 million customers through the vast distribution network comprising over 300,000 POS outlets.
Home Credit started its operation in China in 2007 and established Home Credit Consumer Finance Company Limited in 2010, which is one of the first four pilot consumer finance companies approved by China Banking Regulatory Commission and the only one that is wholly foreign invested. As of June 2017, Home Credit in China has presence in 312 cities covering 29 provinces together with municipalities directly under the central government and has over 86,000 employees. Understanding the features of China market, Home Credit has developed a localized business model. By working closely with leading Chinese retailors such as D.Phone and Suning, it has set up more than 220,000 POS outlets across the country and provided more than 37 million loans. According to the Research of the Consumer Credit Market in China 2016 released by Tsinghua University, Home Credit ranked 1st in Inclusiveness, ranked 1st in Safety and Responsibility, and ranked 3rd in Customer Experience, which shows its remarkable and comprehensive advantages.
Home Credit has been committed to contributing to China’s economic development and the improvement of people’s living standards with safe, convenient and responsible consumer finance services. It drives and broadens financial inclusion for the unbanked population by providing a positive and safe borrowing experience. Now 70% of Home Credit’s customers are first-time borrowers with no or little record in the credit system, who cannot apply for products and services from traditional financial institutions. It also has a focus on promoting financial literacy and has organized series of events in communities, universities and rural areas to enhance public awareness of credit records and responsible lending. Earlier this year, Home Credit and the China Foundation for Development of Financial Education jointly kicked off a rural financial education program – Jinhui Rural Financial Education Project for the Lvliang Mountains Contiguous Undeveloped Areas to contribute to the poverty alleviation in China.
“We are really excited receiving the award from Global Banking & Finance Review,” said Mr.Mel Carvill, Member of the Board of Directors, Home Credit B.V. “Home Credit is a customer-centric organization. I believe the future of financing would be online, offline and hybrid. We have to make sure we are able to provide our services through all these channels to meet the diverse customer needs. We can do it right now and we need to keep up to date with the evolution of the marketplace.”