Security Bank to Acquire 25% Stake in Home Credit Philippines for ₱11 Billion

Security Bank Corporation has announced plans to acquire a 25% stake in Home Credit Philippines, investing approximately ₱11 billion to strengthen its position in the consumer financing market.

Strategic Partnership

The bank entered an agreement with MUFG Bank Ltd. for the acquisition of its stake in HC Consumer Finance Philippines Inc., widely known as Home Credit.

Following the transaction, Krungsri (Bank of Ayudhya PCL) will retain its 75% majority ownership in Home Credit.

Consumer Financing Leader

Home Credit is a leading consumer financing company in the Philippines, with over 11 million customers served. It provides a range of financial products, including:

• Point-of-Sale (POS) loans
• Cash loans
• Revolving credit
• Ancillary services such as insurance and warranty services

Home Credit is also a market leader in POS financing, with partnerships with top retailers and brands and a nationwide presence spanning more than 15,000 POS locations.

Enhancing Customer-Centric Banking

“This acquisition is aligned with our vision to become the most customer-centric bank in the Philippines,” said Sanjiv Vohra, president and CEO of Security Bank. “We’re excited by the strategic benefits this brings as we welcome Home Credit into the Security Bank family.”

The acquisition highlights Security Bank’s commitment to expanding its consumer finance capabilities and its market footprint.

Regulatory Approvals Pending

The transaction is subject to regulatory approvals, with the deal expected to close in the first quarter of 2025.

Advisors and Counsel

AlphaPrimus Advisors served as financial advisors, and Picazo Law provided legal counsel for Security Bank in this transaction.