Home Credit, one of the fastest growing NBFCs in India that has completed five years of operations in the country has emerged as the market leader in small ticket size loans.
In the category of consumer durable loans up to Rs. 10,000, Home Credit India has garnered a staggering 88.17 percent of market share for October to December 2016, according to CRIF (a global company specializing in credit bureau, business information, analytics, decisioning and software solutions).
Home Credit India's market share has also displayed a substantial increase of 27.6 percent over last quarter.
Announcing the market share results from CRIF, Pavel Maco, CEO, Home Credit India said, "Our five year journey in India has been a story of rapid growth and the results show that we are on the right track. We have a strong customer-centric approach that has helped us not only in gaining market leadership in the segment but also grow the consumer lending space in India.
"Home Credit India has successfully emerged at the top position in market share in the small ticket category of up to Rs.10,000 and is steadily growing in other segments as well. It is encouraging to note that Home Credit India continues to grow the NBFC pie in the country by bringing under penetrated markets within the formal financial system. We will continue to do our best in bringing positive changes in the lives of our first time loan takers through responsible lending and take forward the cause of financial inclusion, in the future."
Home Credit's offerings primarily consist of providing in-store financing (direct non-cash loans in retail outlets) to qualified customers looking to purchase consumer durable goods such as mobile phones, wheelers. The company has its operations in over 60 cities across 15 states in the country. It has a strong network of nearly 7,000 Points-of-Sale (PoS) where it services nearly two million customers through a driven employee base of over 17,000.