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Home Credit India to Expand Operations in Nashik, Aims 500 Distribution Points in 2018

Nashik, March 16, 2018: Home Credit India Finance Pvt. Ltd., one of India's fastest growing non-banking finance company, is expanding its presence in Nashik this year. As part of the expansion plans, the company is aiming 500 points-of-sale (PoSs) in the city from the current 314 by December end.

This ramp-up in distribution network will be achieved through a mix of contiguous expansion and growth in existing locations. To support this expansion, Home Credit plans to ramp up its employee base. In September 2015, the company had launched operations in Nashik.

Recognizing the business potential of emerging markets like Nashik and as part of its overall strategy, Home Credit has been focusing on growing its footprint in new markets with the aim of making its products and services available to a larger and diverse customer base.

For Maharashtra too, the Czech Republic-based consumer finance provider company has lined up ambitious expansion plans. Home Credit India is targeting to double its PoS network in the state to 8,000 from nearly 4,000 as of now. The company has a robust employee base in Maharashtra with a workforce of over 5,200. In the current year, 500 more people are to be hired for various cities across the state. Besides Nashik, Home Credit currently has operations in Mumbai, Pune, Nagpur, Aurangabad, Jalna and Wardha.

Mr. Artem Popov, Chief Sales Officer, Home Credit India Pvt. Ltd., said, "On an overall perspective, Maharashtra is an important and strategic market for us. It is critical to our strategy of making our distribution network more robust in central and western India. As one of the fastest growing markets, Maharashtra and cities like Nashik offer 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 Maharashtra. The company is also planning to finance home appliance products of various leading home appliance brands at 0% through a series of promotional campaigns.

In December last year, Home Credit India had achieved a key milestone of crossing 5 million customers in just five years of its operations in India. The company had crossed the 1-million customers mark in 2016, driven by pan-India expansion across major markets, a range of diversified and innovative products backed by superior customer experience. The company added another 4 million customers in 2017, 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