Home Credit B.V. is an international
non-bank financial institution
A non-banking financial institution (NBFI) or non-bank financial company (NBFC) is a financial institution that does not have a full banking license or is not supervised by a national or international banking regulatory agency. NBFC facilitate ba ...
founded in 1997 in the
Czech Republic
The Czech Republic, or simply Czechia, is a landlocked country in Central Europe. Historically known as Bohemia, it is bordered by Austria to the south, Germany to the west, Poland to the northeast, and Slovakia to the southeast. The ...
and headquartered in
Netherlands
)
, anthem = ( en, "William of Nassau")
, image_map =
, map_caption =
, subdivision_type = Sovereign state
, subdivision_name = Kingdom of the Netherlands
, established_title = Before independence
, established_date = Spanish Netherl ...
.
The company operates in 9 countries and focuses on installment lending primarily to people with little or no credit history. As of 30 June 2020 the Group has cumulatively served over 135.4 million customers. Major shareholder of the Group is
PPF, a privately held international investment group whose founder and major beneficiary was
Petr Kellner
Petr Kellner (20 May 1964 – 27 March 2021) was a Czech billionaire entrepreneur, the founder and majority shareholder (98.93%) of the PPF Group. At the time of his death, he had an estimated net worth of $17.5 billion, making him the wealthi ...
with 88.62% stake.
The Home Credit loan can be obtained from throughout 342.7 thousands partnering retail shops and shopping malls in ten world markets as well as at the Home Credit's own online marketplaces (
Russia
Russia (, , ), or the Russian Federation, is a List of transcontinental countries, transcontinental country spanning Eastern Europe and North Asia, Northern Asia. It is the List of countries and dependencies by area, largest country in the ...
,
China
China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's most populous country, with a population exceeding 1.4 billion, slightly ahead of India. China spans the equivalent of five time zones and ...
,
Philippines
The Philippines (; fil, Pilipinas, links=no), officially the Republic of the Philippines ( fil, Republika ng Pilipinas, links=no),
* bik, Republika kan Filipinas
* ceb, Republika sa Pilipinas
* cbk, República de Filipinas
* hil, Republ ...
and
Vietnam
Vietnam or Viet Nam ( vi, Việt Nam, ), officially the Socialist Republic of Vietnam,., group="n" is a country in Southeast Asia, at the eastern edge of mainland Southeast Asia, with an area of and population of 96 million, making i ...
). Home Credit is also presented online in its own mobile application or in a third-party online stores. In selected markets you can pay with a „HC Pay“, a QR code-based revolving credit or with Home Credit credit or shopping cards. Home Credit finances both the purchase of consumer goods through a cash-less loan transaction or other commodities, such as language courses, travel etc. through a cash loans. The loans are always issued in domestic currency of the market in which the brand operates.
History
In 1997, Home Credit a.s. was founded in the Czech Republic and in 1999, the company expanded to
Slovakia
Slovakia (; sk, Slovensko ), officially the Slovak Republic ( sk, Slovenská republika, links=no ), is a landlocked country in Central Europe. It is bordered by Poland to the north, Ukraine to the east, Hungary to the south, Austria to the s ...
. In 2000s company started to expand to
Commonwealth of Independent States
The Commonwealth of Independent States (CIS) is a regional intergovernmental organization in Eurasia. It was formed following the dissolution of the Soviet Union in 1991. It covers an area of and has an estimated population of 239,796,010. ...
countries -
Russia
Russia (, , ), or the Russian Federation, is a List of transcontinental countries, transcontinental country spanning Eastern Europe and North Asia, Northern Asia. It is the List of countries and dependencies by area, largest country in the ...
,
Kazakhstan
Kazakhstan, officially the Republic of Kazakhstan, is a transcontinental country located mainly in Central Asia and partly in Eastern Europe. It borders Russia to the north and west, China to the east, Kyrgyzstan to the southeast, Uzbeki ...
,
Ukraine
Ukraine ( uk, Україна, Ukraïna, ) is a country in Eastern Europe. It is the second-largest European country after Russia, which it borders to the east and northeast. Ukraine covers approximately . Prior to the ongoing Russian inv ...
and
Belarus
Belarus,, , ; alternatively and formerly known as Byelorussia (from Russian ). officially the Republic of Belarus,; rus, Республика Беларусь, Respublika Belarus. is a landlocked country in Eastern Europe. It is bordered by R ...
.
As of 2007 the company was the second largest consumer lender in
Russia
Russia (, , ), or the Russian Federation, is a List of transcontinental countries, transcontinental country spanning Eastern Europe and North Asia, Northern Asia. It is the List of countries and dependencies by area, largest country in the ...
.
In 2010s company expanded to
Asia
Asia (, ) is one of the world's most notable geographical regions, which is either considered a continent in its own right or a subcontinent of Eurasia, which shares the continental landmass of Afro-Eurasia with Africa. Asia covers an area ...
, specifically
China
China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's most populous country, with a population exceeding 1.4 billion, slightly ahead of India. China spans the equivalent of five time zones and ...
,
India
India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the so ...
,
Indonesia
Indonesia, officially the Republic of Indonesia, is a country in Southeast Asia and Oceania between the Indian and Pacific oceans. It consists of over 17,000 islands, including Sumatra, Java, Sulawesi, and parts of Borneo and New Guine ...
,
Philippines
The Philippines (; fil, Pilipinas, links=no), officially the Republic of the Philippines ( fil, Republika ng Pilipinas, links=no),
* bik, Republika kan Filipinas
* ceb, Republika sa Pilipinas
* cbk, República de Filipinas
* hil, Republ ...
and
Vietnam
Vietnam or Viet Nam ( vi, Việt Nam, ), officially the Socialist Republic of Vietnam,., group="n" is a country in Southeast Asia, at the eastern edge of mainland Southeast Asia, with an area of and population of 96 million, making i ...
.
In 2010 the company was the first foreign company to set up as a consumer finance lender in China. In 2015 Home Credit Group launched its operations in the
United States of America
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territo ...
through a partnership with
Sprint Corporation
Sprint Corporation was an American telecommunications company. Before it Merger of Sprint Corporation and T-Mobile US, merged with T-Mobile US on April 1, 2020, it was the fourth-largest mobile network operator in the United States, serving 54.3 ...
.
The group offers loans in 434,232 retail stores and also in digital space.
In 2017 PAG initiated investment of 2 billion RMB into Home Credit Group's Chinese business entity as an interest-bearing convertible loan. The deal was subsequently terminated in 2018 by PAG and Home Credit Group repaid the loan with interest.
In 2018 Home Credit Group initiated sale of its Czech operation consisting of Home Credit Czech and Slovak and Air Bank to Moneta Money Bank. The deal was criticized as one-sided deal that gives Home Credit's subsidiaries unusually high valuation with unusual terms of the deal that would lead to renaming of Moneta Bank to Air Bank. The criticism was strengthened also because of Moneta Chief Executive Tomas Spurny being historically connected to Home Credit Group majority shareholder PPF Group. In February 2019, Moneta based on feedback from its shareholders revised offer with lower valuation. In October 2019, Home Credit India has tied up with The Karur Vysya Bank Ltd, a commercial bank having its head office at Karur, Tamil Nadu, India for joint lending.
In 2019, the company was preparing IPO in
Hong Kong
Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China ( abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delt ...
, however it was scrapped after investors estimated the value between 5 and 7.5 billion euros, whereas shareholders were targeting market capitalization of 10 billion euros.
Home Credit China
Home Credit entered China in 2007 and applied for a pilot consumer finance license in 2010. Home Credit was asked by Chinese officials to help improve relationship between China and the Czech Republic in order to receive full license. Since 2010, Home Credit's parent company PPF helped swing anti-communist international relations sentiment towards strong China ally. In 2014,
PPF helped arrange visit of the Czech president
Miloš Zeman
Miloš Zeman (; born 28 September 1944) is a Czech politician serving as the third and current President of the Czech Republic since 2013. He previously served as the Prime Minister of the Czech Republic from 1998 to 2002. As leader of the Czec ...
to China and subsequently helped pay for private plane for the return trip. The company in 2014 also received nation-wide license for consumer finance lending. In 2016, the company CEO
Jiří Šmejc Jiří (; ''YI-RZHEE''), the Czech is a masculine given name, equivalent to English George, may refer to:
Given name
B
*Jiří Antonín Benda
*Jiří Baborovský
*Jiří Barta
*Jiří Bartoška
*Jiří Bicek
* Jiří Bobok
*Jiří Bubla
*Jiří ...
claimed to be proud of the impact on the revival of
Czech-Chinese relations. Home Credit funded a newly formed think tank, Sinoskop, to counter a longer-established China-watching body, Sinopsis.
Criticism
In 2019, it was uncovered that Home Credit paid public relations company to influence public in opinion in the Czech Republic about China.
Home Credit did hire an agency called C&B Reputation Management, which did marketing for Home Credit. It was also supposed to improve the Czech view of the Chinese communist regime.
зНвг
Home Credit Philippines
Home Credit Philippines is a consumer finance provider that offers various financial solutions and products aimed at enabling customers to afford the things they need and want through simple and convenient processes. The company operates in the Philippines as a subsidiary of Home Credit Group, a global consumer finance company with a presence in multiple countries established in 2013.
Home Credit Vietnam
Home Credit Vietnam was founded in 2008. Over the past 15 years, Home Credit has expanded its network throughout the country, serving over 15 million customers. According to the 2022 financial report, Home Credit Vietnam's revenue reached VND 1,189 trillion, nearly double that of 2021. ROE reached 18.64%, a significant increase from 10.6% in 2021. However, the 30-day payment capacity ratio in USD was negative 960.25%, while the legal requirement for this ratio is at least 5%. The short-term capital to medium-long term loan ratio increased from negative 7.03% at the end of 2021 to 14.29%.
References
External links
* {{Official website, http://www.homecredit.net/
* Home Credit Philippines Official Website: https://www.homecredit.ph/
Financial services companies established in 1997
Financial services companies of the Czech Republic
Companies based in Amsterdam
PPF Group