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Press Release

Home Credit India to Expand Operations in Madurai, Aims to Double Distribution Points by Dec 2018

Madurai, June 1, 2018: Home Credit India Finance Pvt. Ltd., one of India's fastest growing non-banking finance company, is expanding its presence in Madurai this year. As part of the expansion plans, the company is aiming to double point-of-sales (PoSs) in the city to 250 from the current 127 by December end.

This ramp-up in distribution network will be achieved through a mix of contiguous expansion and growth in existing locations across the city. The company had launched operations in April 2016 in Madurai. Recognizing the business potential of emerging markets and as part of its overall growth strategy, Home Credit has been focusing on growing its footprint in new and existing cities with the aim of making its products and services available to a larger and diverse customer base.

For Tamil Nadu, the Czech Republic-based consumer finance provider company has lined up ambitious expansion plans too. By December 2018, Home Credit India is targeting 2,000 PoSs from the current 750 as of now. Besides Madurai, the company currently has operations in the cities of Chennai, Coimbatore, Tirupur and Dindigul in the state.

Mr. Artem Popov, Chief Sales Officer, Home Credit India Pvt. Ltd., said, "Tamil Nadu is a key and strategic market for us. It is critical to our strategy of expanding our footprint and making our distribution network more robust in south India. As one of the fastest growing markets, Madurai offers significant potential for consumer finance providers like us. Our easy and hassle free financing solutions will continue to add value to the lives of our customers and bring smiles on their faces."

In terms of products, Home Credit India is currently offering 0% interest loan on 95% of mobile phone brands in Tamil Nadu. The company is also planning to finance home appliance products of various leading home appliance brands at 0% through a series of promotional campaigns.

Since its launch in India in 2012, Home Credit India has been consistently expanding operations with a customer base of over 6 million as of date. The company had nearly 2 million customers in 2016, driven by pan-India expansion across major markets, a range of diversified and innovative products backed by superior customer experience. In 2017 alone Home Credit added another 3.5 million customers, further consolidating its position as a leading consumer finance provider.

About Home Credit India:

Home Credit India Finance Pvt. Ltd. is a leading consumer finance provider that is committed to drive credit penetration and financial inclusion by offering financial solutions that are simple, transparent and accessible to all. One of India's leading non-banking financial companies (NBFCs), Home Credit India has its operations in over 120 cities across 20 states in the country. The company has a strong network of more than 25,000 points-of-sale (PoS) from where it serves over 6 million customers. The company's employee base stands at over 16,000. 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

About Home Credit Group:

Home Credit India is part of Home Credit Group, an international consumer finance provider with operations in 10 countries where there is high potential to grow. Founded in 1997, we focus on responsible lending primarily to people with little or no credit history. Our services are simple, easy and fast. We operate in highly attractive markets with significant barriers to entry. We are a leading provider of consumer finance in selected countries. It is our experience and knowledge across the different markets, which sustainably puts us ahead of our competitors. We drive and broaden financial inclusion for the unbanked population by providing a positive and safe borrowing experience – the first for many of our customers. We promote higher living standards and meet borrowers' financial needs. Our 140,100 employees have so far served over 101 million customers through a vast distribution network comprising over 400,000 points of sale, loan offices, branches and post offices. For more information, visit www.homecredit.net

For more information, contact:
Sankalp Saini
Home Credit India Finance