Home Credit Philippines has been acquired by Japan’s Mitsubishi UFJ Financial Group (MUFG) and Thailand’s Krungsri (Bank of Ayudhya PCL) for a total amount of PHP 24.4 billion or about USD $435 million.
Home Credit Philippines has over 10 million customers in the Philippines and is being offered as a financial service to about 15,000 stores nationwide.
Krungsri will own 7% stake of the Philippine lending company while MUFG will hold the remaining 25%.
Home Credit Philippines will remain to operate as is and continue to service its growing user base.
