Home Credit launches a multi-city drive to deepen its Offering and Broaden Financial Inclusion in India

- People with little or no credit history in Rajasthan can now avail Home Credit lending solutions in a fast, simple and easy way

Jaipur, 27th June 2019: Home Credit India, a leading Non-Banking Financial Company (NBFC) in consumer finance lending, with its commitment to drive financial inclusion in India, today announced its multi-city drive starting from Jaipur, to deepen its offerings in the country and broaden financial inclusion for Indians.

India has an unbanked population of 190 million, second only to China as per the global Findex Report released by the World Bank. Home Credit offers consumer lending solutions that serve the unique needs of people with little or no credit history and first timer borrowers. Close to 50% of Home Credit's customers fall under the category of First Time Borrower (FTB) who have no credit history and who may be underserved.

Under the current initiative the company will be expanding its solutions for customers in the major cities of Rajasthan, with specific focus on Jaipur, Jodhpur and Kota thereby incentivizing inclusion of the largest sections of unbanked population in the state into the formal financial services sector.

Commenting on the occasion, Mr. Artem Popov - Chief Sales Officer, Home Credit India said, "Home Credit envisages that responsible borrowing comes only from responsibility through the lender. It is a symbiotic relationship with our customers that has become a benchmark for us, driven by trust, education, building confidence and helping people to live better and fulfil their aspirations or needs. A borrower who has no credit history is always at a disadvantage and we intend to empower this segment of unbanked population in India and to help broaden financial inclusion."

"Home Credit has built a significant presence in the State of Rajasthan over the last few years. With a market share of 60% in Rajasthan we lead in sub Rs10,000 segment of consumer financing. We are confident to keep growing on the back of a strong back-end infrastructure, deep knowledge of the market and the customer, and by continuing to innovate on our processes."

While driving credit penetration and broadening financial inclusion Home Credit is committed to responsible lending. This, the company does by offering financial solutions that are simple, transparent and accessible to all through our feet on ground, who are able to drive understanding of credit, assess the borrower and help them to ascertain the right borrowing behaviour.

The company's proven track record of underwriting capabilities, risk assessment, new market entry and customer focused approach have ensured that the company has made the right disbursements of loans in a responsible manner as well as has been able to advise and help customers plan their finances better. All this has helped to build Home Credit as a lender of choice and help the company retain its differentiated position in the market.

Home Credit through its growing retail network has been able to expand the portfolio for retailers, grow employment opportunities for trained salespeople and leading the category of financial solutions for the unbanked population.

About Home Credit India

Home Credit India Finance Pvt. Ltd. is a leading Non-Banking Financial Company (NBFC) in consumer finance lending. The company is committed to drive credit penetration and financial inclusion by offering large financial solutions that are simple, transparent and accessible to all. With largest penetration in sub Rs.10,000 category, Home Credit India has an employee base of over 15,000 and has been consistently expanding operations since its entry in 2011, with its operations spread over 179 cities across 20 States in India. The company has a strong network of around 29,000 points-of-sale (PoS) and is growing with a customer base of around 9 million customers, driven by Pan-India expansion across major markets, a range of diversified and innovative products backed by superior customer experience. Home Credit India has been recognized by Aon Hewitt as a Regional AON Best Employer 2017 for employer excellence. For more information, visit www.homecredit.co.in

(Leader in sub Rs.10,000 category of consumer finance lending as per CRIF Report September 2018)

For more information, visit www.homecredit.co.in