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Tuesday, Apr 07, 2026
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Security Bank Completes Acquisition of 25% Stake in Home Credit Philippines from MUFG
Transaction valued at P10.365 billion enhances Security Bank's consumer finance portfolio.
Security Bank Corporation has finalized the acquisition of a 25-percent minority stake in HC Consumer Finance Philippines Inc. (HCPH), commonly known as Home Credit Philippines, from MUFG Bank Ltd., a prominent Japanese financial institution.
The transaction, valued at a base price of P10.365 billion, is part of Security Bank's strategic initiative to enhance its consumer lending services and expand its presence in the market.
The acquisition was disclosed following approval from the Bangko Sentral ng Pilipinas (BSP).
An adjustment to the purchase price is to be settled within 90 days based on alterations in HCPH’s net asset value observed between December 31, 2023, and April 30, 2024.
Sanjiv Vohra, the president and CEO of Security Bank, expressed the bank's commitment to integrating Home Credit Philippines into its operations.
The investment is expected to bolster Security Bank's engagement in the fast-evolving consumer finance sector, which has been marked by robust growth.
Vohra noted the potential for long-term value creation through the partnership, emphasizing the advantages of combined strengths in innovation within lending solutions and the aim of enhancing financial inclusion in the country.
He highlighted the bank's objective of ensuring sustainable growth, stability, and reliable returns for both shareholders and stakeholders.
Home Credit Philippines is recognized as a leading provider of point-of-sale financing and has an extensive reach, serving over 11 million customers across more than 15,000 locations nationwide.
The company offers a variety of financial products, including installment financing, cash loans, revolving credit, and additional services such as insurance and warranties.
MUFG's subsidiary, Krungsri (Bank of Ayudhya PCL), will retain a 75 percent majority stake in Home Credit Philippines following the transaction.
Yasushi Itagaki, Group COO of MUFG, commented on the deal, highlighting the complementary nature of Security Bank's local expertise and commitment to financial innovation with Krungsri's regional ambitions for Home Credit.
Itagaki emphasized that the partnership aligns with their shared goal of promoting financial inclusion and expanding access to responsible lending solutions within the Philippines.
He expressed optimism regarding Home Credit's growth potential and the opportunities that may unveil through this collaboration.
The transaction, valued at a base price of P10.365 billion, is part of Security Bank's strategic initiative to enhance its consumer lending services and expand its presence in the market.
The acquisition was disclosed following approval from the Bangko Sentral ng Pilipinas (BSP).
An adjustment to the purchase price is to be settled within 90 days based on alterations in HCPH’s net asset value observed between December 31, 2023, and April 30, 2024.
Sanjiv Vohra, the president and CEO of Security Bank, expressed the bank's commitment to integrating Home Credit Philippines into its operations.
The investment is expected to bolster Security Bank's engagement in the fast-evolving consumer finance sector, which has been marked by robust growth.
Vohra noted the potential for long-term value creation through the partnership, emphasizing the advantages of combined strengths in innovation within lending solutions and the aim of enhancing financial inclusion in the country.
He highlighted the bank's objective of ensuring sustainable growth, stability, and reliable returns for both shareholders and stakeholders.
Home Credit Philippines is recognized as a leading provider of point-of-sale financing and has an extensive reach, serving over 11 million customers across more than 15,000 locations nationwide.
The company offers a variety of financial products, including installment financing, cash loans, revolving credit, and additional services such as insurance and warranties.
MUFG's subsidiary, Krungsri (Bank of Ayudhya PCL), will retain a 75 percent majority stake in Home Credit Philippines following the transaction.
Yasushi Itagaki, Group COO of MUFG, commented on the deal, highlighting the complementary nature of Security Bank's local expertise and commitment to financial innovation with Krungsri's regional ambitions for Home Credit.
Itagaki emphasized that the partnership aligns with their shared goal of promoting financial inclusion and expanding access to responsible lending solutions within the Philippines.
He expressed optimism regarding Home Credit's growth potential and the opportunities that may unveil through this collaboration.
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