Home Credit Philippines is seeking to overturn a Securities and Exchange Commission (SEC) ruling on its debt collection practices after a borrower complained the lender pursued a delinquent loan through people who had no responsibility for the debt.
Tycoon Frederick Dy’s Security Bank Corp. has completed its P11.6-billion investment for a 25-percent stake in Home Credit Philippines (HCPH), marking a major step in its push into mass-market consumer lending.
Home Credit Philippines, a major player in the consumer financing industry, has served over 11 million customers. Its product offerings include point-of-sale loans, cash loans, revolving credit, and ancillary services such as insurance and warranties.