Home Credit India to expand operations | Fusion - WeRIndia

Home Credit India to expand operations

Home Credit India to expand operations

Home Credit India Finance Pvt. Ltd., one of India’s fast-growing Non-Banking Financial Companies (NBFC) is planning to increase credit penetration by offering consumer finance to all. The company has already made plans to increase its presence in 40 cities across the country by the end of this year.

The company is part of Home credit B.V which is an international consumer finance provide. It has operations in 10 countries from Asia and Europe. In 2012, Home Credit launched its operations in India. Since then, it has increased its operations to more than 25 cities across 12 states in the country.

The company has a customer base of over 4 lakh now and is constantly increasing. It has a network of 2,500 Points of Sale (PoS). The main offerings of Home Credit consists of in-store financing which is direct non-cash loans in retail outlets. They give this financing customers they consider qualified, i.e. people looking to buy consumer durable goods like home appliances, laptop/tablets, mobile phones and two-wheelers.

Home Credit India CEO, Pavel Maco stated that Indian consumer finance market is estimated to grow at a compounded rate of 18 percent according to a recent report by Credit Suisse. This will make Indian consumer finance market become a USD 1.2 trillion opportunity by 2020.

Currently, Home Credit is operating in the following cities: Delhi NCR, Chandigarh, Jalandhar, Ludhiana, Jaipur, Pune, Bhopal, Lucknow, Indore, Mumbai, Kanpur, Ahmedabad, Coimbatore, Bangalore, Jodhpur, Chennai, Kota, Hyderabad, Jabalpur, Agra, Kochi, Nagpur, Mysore, Surat, Nashik, Raipur and Madurai. Soon they are expected to expand to many more cities. The current headquarters of Home Credit India is in Gurgaon.

Image Credit: Ondrejpisa / CC BY-SA 4.0

Image Reference: https://commons.wikimedia.org/wiki/File:Home-Credit-logo.jpg

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