Home Credit reports stable growth with 34% market share: CRIF

Source :IANS
Author :
Last Updated: Tue, Dec 3rd, 2019, 21:07:12hrs

New Delhi: Home Credit, a local arm of the international consumer finance provider with operations spanning over Europe and Asia and committed to drive financial inclusion in India, has sustained its growth with 34% market share in the category of consumer durable loans of upto Rs 10,000, as per the latest CRIF report of Q3, 2019.

Home Credit is committed to drive credit penetration and financial inclusion by offering financial solutions that are simple, transparent and accessible to all. While the overall sector has witnessed a decline in consumer durable loans, Home Credit has successfully managed to sustain it's share and penetrate deeper in the segment because of high customer faith and easy access to credit.

During the quarter ending September 2019, Home Credit India maintained an average of approximately 13% market share across all price categories and 24% market share in the category of consumer durable loans of up to Rs 15,000.

According to Marko Carevic, Chief Marketing & Customer Experience Officer, Home Credit India, "We are pleased with Home Credit's performance this quarter. Despite the slowdown in the sector, we continue to be a strong player in consumer durable loans in sub-Rs10,000 category, and offer consumer lending solutions that serve the unique needs of first time borrowers. We are committed to a customer friendly approach and evolve our products to suit the needs of our customers by offering financial solutions that are simple, transparent and accessible. The encouraging report from CRIF shows that we are on the right track in our efforts to be a lender of choice."

With a strong hold in market, Home Credit's strategic focus is to serve customers with little to no credit record and connect them with the regulated financial sector, with simple, easy and fast services, to build its position in highly attractive markets. Home Credit continues to deliver superior sustainable value to its customers.

CRIF provides advanced solutions to decision-makers in the banking, financial, insurance, telecommunications, utilities and business world, understands the business requirements which makes each company unique and different.