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Business Economy


NBFC Home Credit India Finance to double presence in India by next year

Ahmedabad, Aug 5 (UNI) Home Credit India Finance, one of India’s fastest growing consumer finance Non-Banking Financial Company (NBFC) in small loan sector and biggest lender for mobile phone purchase today said that it would double its base in the country by next year.

Mr. Artem Popov, Chief Sales Officer, of the company which has presence in 11 countries including the US and Europe, told newsmen here today that from a modest beginning from New Delhi and some cities in Punjab, the company has now expanded to 50 cities (mostly tier 1 and 2 cities) of 14 states with a customer base of around eight lakh. 'We have plans to expand it further and by next year our operations would be in 50 more cities,' he said.

Mr Popov said that with an average current loan ticket size of Rs 10000 (mostly for mobile phone buyers who contribute to the 70% of the company business currently) the company has distributed a loan of Rs 650 crore in the first quarter of the calendar year 2016 while a year ago during the same period it was only Rs 200 crore.

'It is a phenomenal growth,' he said
Talking about Gujarat, he said that it was in four cities of the state and has captured a staggering 86% market share in Ahmedabad in the Rs. 0 - 10,000/- consumer durable loans category during Q4-FY2015- 16.

He said that his company was planning various tie ups, including that with e-commerce platforms.

UNI XC CJ RJ 1525
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