Consumer finance company Home Credit Philippines announced Friday the entry of new shareholders following the completion of its acquisition by Krungsri, the fifth largest financial group in Thailand and Mitsubishi UFJ Financial Group, a global financial leader from Japan at a base value of 406 million euros or P24.4 billion.
Home Credit Philippines chief executive David Minol said the company has high hopes that with the support of Kungsri and MUFG, the financing company would sustain the growth momentum achieved in previous years.
“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,” he said.
He said 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.