Who owns Home Credit Bank? The history of the home loan bank - You expected that there would be such losses.
Home Credit Bank issued its first loan exactly 10 years ago, on July 16, 2002. Since then, we have strived to make banking services easy and accessible, to build a Financial Store, the basic principles of which are expressed in three words: “Fast. Just. Comfortable". Thanks to this, we were able to take a leading position in the retail banking market. Here we present the main facts from the ten-year history of the construction of FinMag.
ü January 31, 2002 - transaction on the purchase by the Home Credit Group of the Technopolis Innovation Bank (license No. 316 dated June 19, 1990).
ü The first representative office in Nizhny Novgorod.
ü The first outlet.
ü First trade loan.
ü The first federal trading network is a partner (“Tekhnosila”).
ü Start of partnership with Eldorado.
ü "In 2003-2004, all the major retail chains that existed at that time were partners of Home Credit Bank: Mir, Tekhnosila, M-Video, Eldorado."
ü Dmitry Mosolov, First Deputy Chairman of the Board of Home Credit Bank
ü “In 2003, there was a rush of demand for loans. In Siberia, people lined up for loans; people stood all night.”
ü Geographical expansion.
ü The first payment card of Home Credit Bank.
ü Joined MasterCard.
ü First profit.
ü Contract with Russian Post.
ü We covered all federal districts with sales points, except the Far East.
ü We are among the leaders in the POS-loans market.
ü The first ruble bonds.
ü The first bank office in Nizhny Novgorod with the status of a cash register company.
ü First cash loan.
ü The first public transaction in Russia on the securitization of ruble loans.
ü The first Eurobonds.
ü Debugging the risk management system.
ü Implemented an anti-fraud system.
ü Call center in Obninsk, the largest employer in the Kaluga region.
ü Entered the mortgage market.
ü Entered the car loan market.
ü Credit card securitization is one of the first on the market.
ü Promotion 0-0-24 – tested a successful marketing product.
ü We are among the leaders in the credit card market.
The first branch in Nizhny Novgorod.
ü Ivan Svitek, a strong leader with a holistic understanding of the bank’s long-term strategy for retail development, information openness, and building relationships with clients, came to the bank.
ü Left the auto and mortgage markets.
ü We reacted flexibly to the crisis and used it as an opportunity for further business development.
ü We began to attract deposits.
ü Active transition to retail.
ü Salary projects.
ü Beginning of development of the ATM network.
ü Launch of Internet banking.
ü Launch of SMS banking.
ü We earned a record profit at that time, successfully ending the crisis year.
ü Became No. 1 in the POS credit market.
ü Branches were opened in all federal districts, except the Far East.
ü Record profit according to IFRS for the entire period of existence - 9.4 billion rubles.
ü Business growth in all directions.
ü We have resumed issuing car loans.
ü New “light” format of bank offices.
ü Agent network.
ü We opened an office in Khabarovsk. The bank's branch network covered all of Russia. At the end of 2011, the Home Credit Bank network included 1,273 offices, over 58,000 sales, and 633 ATMs. The bank took fourth position among the most branched banks in Russia.
ü The share of cash loans exceeded the share of POS loans in the bank’s portfolio. The bank continues to maintain leadership in the POS lending market and took seventh place in the cash loan market at the end of 2011.
ü In 2011, the deposit base was significantly increased. Over the 12 months of 2011, the volume of deposits and current accounts increased almost 3 times to RUB 70,298 million (RUB 23,785 million as of December 31, 2010) and amounted to 56% of the bank’s total liabilities.
ü We opened the first kindergarten in Russia in the office for the children of employees. Sadik works at the Obninsk representative office of the bank.
ü Opened virtual representative offices of the bank on social networks
ü We were the first on the market to provide the client with the opportunity to cancel the loan within two days without penalties and commissions (service “48 hours”)
ü We began to implement the concept of innovative banking under the slogan “Fast. Just. Comfortable". The essence of the concept is that the bank should be as simple, understandable, fast, close, bright, and convenient as a fast food restaurant. Within the framework of this concept, several new projects for the banking market were implemented:
ü We have developed a new simple line of products: 3 loans with a decision in 30 minutes, 3 loans with a decision in 3-5 days, 3 deposits, 3 credit cards;
ü We introduced a new form of loan agreement, where all the conditions are stated on one sheet of paper in a conversational language that is understandable to the client;
ü Introduced electronic product menus in departments;
ü We have introduced a unique position of financial conciliator, who in a special manner considers claims and cases related to difficult situations of clients.
ü We launched a new channel for remote customer service - “Video Consultant”. In addition to the ability to see and hear your interlocutor, the “Video Consultant” functionality allows you to exchange messages in a chat, as well as display an image of a website and documents on the screen
ü We modernized the loan issuance system and introduced a loan approval service without visiting a bank branch.
ü We launched “Mobile Bank” for the most popular mobile platforms: iOS and Andorid. Using this application, you can pay for the services of more than 450 organizations throughout Russia, find branches, ATMs, as well as shops or cafes that offer discounts specifically for bank card holders.
When becoming clients of a particular bank, not many people think about who they trust with their money. In our opinion, if you take out a loan from a credit institution or make a deposit, you need to have at least minimal information about it. You never know how things will turn out, you need to know those with whom you are collaborating. In this publication, we invite you to get to know Home Credit Bank better. We will answer questions such as: whose bank is Home Credit, who is its current owner, and what place does the bank occupy in the ranking of credit organizations? We hope the information will be useful.
It all started in the distant perestroika years, when Zelenograd trusts and state farms decided to pool capital and organize a bank with the promising name “Innovation Bank Technopolis”. For the city of Zelenograd this was a real breakthrough, despite the fact that the bank initially specialized in servicing a dozen city enterprises. Over the course of 12 years, the bank has grown steadily, serving not only local commercial organizations, but also individuals, as well as large oil and brokerage companies.
The bank received a new round of development in 2002, when the largest European financial holding, or rather one of its subsidiaries, Home Credit Finance A. S from the Czech Republic, became interested in it.
- A Czech organization successfully bought out our bank.
- The necessary package of documents was drawn up, which turned the Russian bank into a subsidiary of Home Credit Group.
- The holding invested a significant amount in the development of its new subsidiary, which made it possible to turn this bank into one of the largest in Russia.
- A year later, the bank received a new name “Home Credit and Finance Bank” and from that moment its modern history began.
Since the renaming, HKB has actually only gained momentum. Two years later, KKB branches were already all over the country, with the possible exception of the Far Eastern Federal District. In 2005-2006, mortgage and consumer lending was actively developing. In 2007, KhKB became a universal retail bank, which issues the largest number of loans to individuals.
In 2008, due to well-known events, the bank had to curtail and restructure some of its projects, but these measures gave new impetus to the development of the bank.
Since 2009, the bank has set a course for innovation, providing clients with the opportunity to be served through Internet banking and mobile applications. Until the beginning of 2014, KhKB expanded its geography, simultaneously increasing volumes in the share of consumer lending. In the same year, a new crisis broke out, which also hit the Russian financial market. All this was aggravated by the sanctions policy towards Russia, so the bank’s management was forced to take a course towards optimization.
From the end of 2014 until the summer of 2017, “unprofitable” HKB branches were closed everywhere in Russia, which caused a lot of concern among customers. Rumors spread that the bank was ceasing its activities, and in some small towns people even panicked. All these rumors, which, by the way, are still circulating on the Internet to this day, are nothing more than rumors. Today, HKB has almost completed optimization and is entering the next stage of its development. He does not plan to close under these conditions!
HKB today
Today Home Credit Bank is a top Russian bank in terms of a number of indicators. These indicators are regularly published by official financial organizations, so they are available to everyone. What do we see?
- In the summer of 2017, KhKB was assigned a credit rating of ruBBB+ stable. This means that the organization has a moderate level of financial and creditworthiness. Compared to other banks, this is a very good indicator.
- In terms of financial rating, HKB rose from 38th place to 36th in just one year. The bank's assets were increased to 241,470,101 rubles. This means that over the past year the bank added 14,130,244 rubles (+6.22%).
- In the popular rating, HKB immediately rose to 18th place, having solved 1201 problems over the past year, which previously caused a negative assessment from clients.
- In the service rating, HKB occupies 102nd place and this is very bad. This means that Home Credit has a bad reputation among other banks and other credit organizations do not want to deal with it. The most interesting thing is that in the service rating, Sberbank of Russia is even lower, at 104th line, and VTB24 is at 100th line. I wonder what this is connected with.
- And finally, in the rating of online banks, HKB occupies a confident 38th place. This is not bad, although there is still room for improvement. By the way, one of the key areas of development of Home Credit today is the improvement of services providing customer service via the Internet.
Well, we’ve talked about ratings and financial indicators, all that remains is to get an idea of the corporate structure of Home Credit. The corporate structure of this organization is very complex, but we will not go into details. Let's just say who the owners of HKB are. In fact, the Russian Home Credit has two owners: Home Credit B.V and Home Credit International a.s. The first owns 99.9919% of assets, and the second 0.0081%.
Thus, the bank's capital is entirely concentrated in the hands of foreign holding companies. These companies also own Kazakhstan, Belarus and other branches of Home Credit in the CIS countries and Southeast Asia. As part of a powerful financial holding, Home Credit has been, is and remains a reliable partner for both individuals and legal entities. He will not lose his license overnight and will not disappear in an unknown direction, leaving thousands of clients with nothing.
— Home Credit was one of the first in retail to stop issuing loans to high-risk borrowers. For what reason?
— At the beginning of 2013, we noticed the first signs of debt. Even those clients who previously regularly paid their loans began to make late payments. We understood that this could lead to an avalanche-like increase in non-payments. Therefore, we took urgent measures. We sharply increased the requirements for borrowers, strengthened interaction with all credit bureaus, and limited the frequency of receiving loans.
— With the “tightened” requirements, where will you get new borrowers to build up your loan portfolio? After all, the market is oversaturated. Raiffeisenbank analysts believe that half of the economically active population already has consumer loans, and the rest most likely do not want to live in debt, especially in the current economic situation.
— In February of this year, we conducted a survey among our active borrowers, who had never made a late payment during the entire period of cooperation with the bank. Based on its results, it turned out that a quarter of these people, and in some regions even a third, were going to take out a new loan. In first place in terms of demand are non-targeted cash loans, in second place are POS loans, that is, loans for the purchase of goods, in third place are car loans, in fourth place are mortgages, and in fifth place are credit cards.
Therefore, of course, we feel a contraction in demand, but I would not say that it has completely disappeared. In addition, we see that the flow of new customers coming to us through the POS channel does not dry out. There are enough borrowers. There are about 30 million people in our database. We offer them cash loans through cross-selling. But again, we strictly check them: we make offers only to clients who have not had any delays.
— How much has your loan portfolio decreased over the last year?
— What is its structure now?
— Cash loans — 59.2%, POS loans — 23.3%, credit cards — 15.5%, mortgages — 2% [Home Credit issued mortgage loans from 2006 to 2008].
Yuri Andresov, Chairman of the Board of Home Credit Bank
Education and early career
In 1991 he graduated from the Ufa Aviation Institute. S. Ordzhonikidze with a degree in electronic engineering; in 2003, he graduated from the Russian Economic Academy named after G.V. Plekhanov with a degree in finance and banking. In 1999-2000, he was Deputy Chairman of the Board of Bashprombank.
At Home Credit
He has been working at the bank since 2003. He advanced in his career thanks to the implementation of a number of projects in the regions, including contracts with the Eldorado chain of stores to provide loans for the purchase of goods (POS loans) and to repay loans through Russian Post.
Acting as Chairman of the Board since February 2015, he was appointed to the position of Chairman of the Board on March 25. Before that, he was deputy chairman of the bank’s board, as well as director of the Home Credit banking network.
“Losses should already be reduced”
— In the first quarter, Home Credit received a record loss in Russia according to IFRS — 5.2 billion rubles. How do you intend to rectify the situation?
— Macroeconomic negativity has been added to the debt problem. The inverse correlation between the welfare of the population and the share of arrears is very high. Real wages fell by 13% over the year. Not surprisingly, delinquencies remain high. We traditionally take a conservative approach to provisioning (the provisioning ratio in the first quarter of 2015 was 109%), and this puts significant pressure on the financial result. Also, the decrease in profitability was affected by expensive funding, which we attracted in December-January due to a sharp increase in the key rate of the Central Bank at the end of 2014 (by 6.5 percentage points, to 17%).
We always prefer to maintain high capitalization and a liquidity cushion; this gives the bank stability in difficult times. Now the key rate of the Central Bank has decreased to 11.5%. The negative impact of the “expensive passive base” was mostly exhausted by the end of the first half of this year. Losses should already be narrowing in the third quarter.
— Did you expect such losses to occur?
— In 2013, we had a more optimistic view of what was happening in the sector. Last year it became clear that, against the backdrop of macroeconomic negativity, a difficult period awaits us all. The peak of delinquency in the banking industry has not yet been passed. But the situation on the foreign exchange market has stabilized, the Central Bank is consistently lowering the key rate. All this inspires some optimism.
— What did you do to prevent losses?
— We have developed a set of measures to optimize the business, which has allowed us to significantly reduce costs. By the end of summer of this year, optimization will be completed. We are consistently fighting against delays. We managed to stabilize the situation with overdue debt even with a falling portfolio. NPL (overdue from three months) at the end of the first quarter of 2015 was 15.1%, at the end of 2014 - 15.6%, at the end of the third quarter of 2014 - 16.8%. But this figure may fluctuate depending on macroeconomic conditions. We now prioritize portfolio quality above business growth. Currently, we issue loans to customers off the street only in the POS segment. The risks in this segment are lower, since the loan amounts and terms are small.
Home Credit Bank"
It specializes in unsecured retail lending - that is, providing loans to citizens without collateral. The bank's priority areas are the provision of POS loans, cash loans and credit cards. 60% of liabilities are deposits of individuals.
The bank is in the top 30 in terms of assets (RUB 304.3 billion according to RAS, as of June 1). In 2013, the bank was in the top 15. In the first quarter of this year, there was a loss in Russia of 5.2 billion rubles. Even significant cost reductions did not help to avoid losses. Thus, in 2014, the bank closed every fourth office, and in three months of 2015, the Home Credit network decreased by another 16% and now consists of 4,483 points of various formats.
According to the disclosed information, the beneficiaries of the bank are the main owner of the PPF Group, one of the richest Czech businessmen Petr Kellner (with a share of 88.62%) and his partner Jiri Šmejc (11.38%).
— How do you deal with bad debts?
— We use all tools: collection, restructuring, sale.
— How do borrowers who received loans under stricter requirements behave in the current economic conditions? Considering that their real incomes are falling and their loan burden is very high.
— The average term of a POS loan is now 20 months, a cash loan is 41 months. Today, new loans issued after mid-2013 account for more than half of the portfolio. The analysis shows that the risks for these clients are lower.
— In December 2014, at the height of the crisis, the Central Bank allowed banks to take into account transactions in foreign currency at the exchange rate as of October 1 last year — 39.38 rubles. per dollar, not to revalue securities that have fallen in price and not to take into account the deterioration of the borrower’s credit quality when restructuring loans, which allowed banks not to increase reserves. Did these measures help you? How will their cancellation affect the bank?
— We used this opportunity only for the purposes of calculating the N6 standard [maximum risk per borrower]. We calculated loan reserves at the current exchange rate.
— On July 1, the law on the full cost of the loan, PSK, came into force. Have you had to significantly reduce rates on consumer loans?
— Yes, we have reduced rates to the level of the maximum PSC, and this will lead to the fact that we will no longer be able to issue loans to some borrowers. They will have to get loans outside the banking sector.
“Mergers and acquisitions are not our topic”
— Is your shareholder, the Czech PPF group, ready to support the bank in difficult times?
— The shareholder constantly emphasizes that he, as a strategic investor in Russia, is always ready to support the bank. For example, in December 2014, we were provided with additional financing totaling RUB 12 billion. But now I don't see the need for additional support.
— Mortgage accounts for only 2% of your portfolio; are you planning to develop this area? Perhaps your plans include car loans and commission transactions?
— At the moment, we receive commission income from the sale of various insurances, including those not related to lending, and from the sale of legal services. Car loans and mortgages are definitely not our story. We try not to waste time.
— In the winter, you said that the bank plans to provide most of its services through remote channels, while the offices will continue to accept deposits and provide consultations on complex products and services. When will you achieve this result?
— By remote channels we mean not only the Internet and mobile banking. Remote channels are the service and sale of products outside of branches. By the end of this year, 20% of our sales will be carried out remotely.
We are currently actively developing a courier scheme, which we call “Taxi-Credit”. If a client needs a loan, a store employee calls our specialist. The entire process of issuing a loan, including the arrival of the courier, takes 40 minutes. We carry out scoring and approve loans remotely, and in addition, our employee checks documents and conducts face control on site. Now we are working with those retail outlets with which we already have contracts. There are about 100 thousand of them. In the future, we plan to work with other points, as well as the opportunity for the client to call a loan specialist independently.
The courier sales scheme leads to cost reduction, since our employees, who until recently issued a loan per day, going to the client at his request, will be able to issue five to six loans daily. We have 10 thousand credit specialists and 20 thousand agents who work throughout Russia.
We also cooperate with several banks to process their loans through our distribution network and plan to expand the number of partners.
— Former vice president of the MoneyGram money transfer network in the CIS, Eastern Europe and Israel, Peter Gnatyuk, once remarked in an interview: “Cash is cash. He was, is and will be." Do you agree with this?
— In the Russian market this is still true. We can talk about any innovation. But so far in Russia only 10-15% of people use them. We are designed for the remaining 85%.
— “Home Credit” was always aloof from any reorganizations or M&A. Perhaps plans have changed?
— This is a question for shareholders, although, as far as I know, they have not changed: mergers and acquisitions are not our topic. We have always developed and will continue to develop organically. As for the rehabilitation of other credit institutions, we do not exclude such a possibility for ourselves.
I used to say
2011
“In general, we position ourselves as a bank for everyone... Conceptually, our bank strives to become a kind of McDonald's in the financial market. Accessible, recognizable and providing products for everyone” (“Markeru”, February 2011)
year 2012
“Our loan portfolio grew at a pace far ahead of the market, thanks to a wide network of sales points and branches (6 thousand), as well as an affordable and attractive product line” (Vedomosti, December 2012)
year 2013
“The consumer lending market was reducing its growth rate under the influence of<…>increased credit burden on some segments of the population, as well as regulatory measures... Our bank<...>begins to concentrate on servicing less risky categories of borrowers" (Gazete.ru, December 2013)
year 2014
“There is demand, but banks are forced to be very careful in selecting borrowers... I have been working in a bank since 2003. And people ask me all the time when the POS market (credits in stores and other points of sale) will die. I answer: “Never!” (RBC, October 2014)
2015
“The bank needs optimization (closing every fourth office, etc.) to return to profit... Strict selection of borrowers has led to a reduction in lending volumes and a decrease in income” (RBC, March 2015)
Home credit is an international banking system that occupies a leading position in the world in issuing consumer loans. The company's main office is located in Prague, the capital of the Czech Republic. As of 2019, the bank is represented in 10 countries: the Russian Federation, India, China, the USA, and a number of European and Asian countries. Now Home Credit Bank's clients are 90 million people. Many users wonder whose bank is Home Bank. The main direction of Home credit's work is retail lending - the organization issues loans exclusively in national currency and to individuals.
Home credit did not immediately become a powerful and prosperous bank. It was the result of combining the capital of Zelenograd trusts and state farms and received the name “Technopolis Innovation Bank”. For a small town, this was a real breakthrough; dozens of people got new jobs. At the beginning, the organization specialized in servicing enterprises. Over the past 12 years, dramatic changes have occurred: the bank began to work not only with commercial organizations, but also with individuals. The bulk of the income came from cooperation with oil companies.
In 2002, one of the largest financial holdings in Europe, Home credit Finance, became interested in the work of the innovative bank. The organization developed as follows:
- The Czechs bought all the bank's shares.
- The Czechs prepared documents according to which the organization became a full-fledged subsidiary.
- The parent company allocated a large amount for the development of the innovative bank.
- In 2003, the organization was completely renamed Home Credit Bank.
The former Technopolis Innovation Bank began to develop rapidly and gain popularity among clients. By 2005, branches of the organization were opening throughout the Russian Federation, except for the Far Eastern District. The primary direction of the HKB was opened in 2005-2006. Then consumer loans began to enjoy enormous popularity. Banking statistics for 2007 showed that Home Credit issued the maximum number of loans.
After Technopolis Innovation Bank became part of Home Credit Bank, it began to develop rapidly. Today, branches of the organization are present in every region of the Russian Federation. Since 2009, HKB has revised the range of services it provides - now you can apply for a loan from a mobile application or online banking.
Over the past three years, HKB has closed all branches that bring it little profit. This triggered a wave of anxiety and concern among customers. Many thought that Home Credit was closing and leaving this market. In fact, the organization is thriving in the Russian Federation and has no plans to give up clients.
Who does it belong to?
Home Credit Bank is one of the most popular banks in the Russian Federation. Its financial indicators are the best in the entire state. Reporting is open to everyone and can be found on the company’s official website. The following information can be obtained from open sources:
- In 2017, KhKB received the maximum stability rating - this means that it ensures the full operation of financial assets, covers needs and operating expenses.
- Moved up 2 lines, to 36th place, in the ranking of financial assets. The amount of personal savings has increased, thanks to which loans began to be issued more often.
- It rose to 18th place in the national rating of banks - directors and senior management managed to solve more than a thousand problems that caused negativity among clients.
Positive dynamics show that management has taken the right course to solve problems. In the ranking of banks that provide Internet services, KhKB ranks 38th. This is a good indicator, but management is doing everything possible to improve ratings. The bank offers a convenient mobile application that works on all operating systems and convenient Internet banking. A special system allows you to conduct banking transactions at home. If you don’t understand whose bank is home credit, you can look at the official website.
Many large competitors, such as VTB or Sberbank, are also over 100. This is due to a specific assessment methodology, which is impossible to understand. KhKB is a large financial organization whose primary focus is consumer lending. The bank has many partners who sell goods to HKB clients at discounted prices. There is a branch of the organization in almost every city; you will not have any difficulties when applying for a loan.
The owners of Home Credit Bank are Home Credit B.V and Home Credit International a.s. These two organizations together have 100% of the company's shares. These are foreign companies with private capital. These companies also own bank branches in Belarus, Kazakhstan and other CIS countries. HKB is a reliable organization that provides services to individuals and legal entities. With it, you don't have to worry about the safety of your money. After studying the financial information, you should not have any questions about whose bank this is.
Recently, the question of whose bank Home Credit is and which group of companies it belongs to has arisen more and more often. And this is not strange, because the popularity of this organization is growing. Therefore, people who trust her with their money are interested not only in the company’s rating, but also who is its owner.
This information allows you to make sure that the company is not a fly-by-night company, but a reliable partner with a good reputation.
General information about Home Credit Bank
For those interested in whose bank Home Credit is, worth knowing that this is a commercial bank that has been successfully operating for many years in Russia, and has earned the respect of both clients and competitors.
He is on the list the most successful in our country. He has been successfully issuing consumer loans for many years. The full name of the company is as follows: Home Credit and Finance Bank LLC. But the company, for the convenience of clients, uses the shortened name Home Credit.
Today it has a huge customer base. It reaches 36.5 million people. They use its services both in Russia and in Kazakhstan. In total, the company employs about 17 thousand people.
People who are just wondering whether to become bank clients can familiarize themselves with the company's credit ratings. They all confirm the stability of the company, and therefore confirm its reliability.
Bank financial indicatorsCurrently, Home Credit Bank has strong partnerships with many well-known companies. Its representative offices operate in 2 thousand cities. In total, the following applies on the territory of Russia and Kazakhstan:
- 271 branches.
- 117 thousand points of sale in partner stores.
- More than 1 thousand ATMs.
The company does not stop there, it develops and constantly improves.
Some people wonder if the company has a slogan. The company is famous for its rather aggressive advertising campaigns, for each of which it chooses a bright and interesting motto. So for consumer loans it sounds: “Simple. Fast. Comfortable.". Therefore, it is not surprising that such an accessible and catchy description of the proposal always resonates with people.
History of the creation of Home Credit Bank
To understand in more detail whose Home Credit bank this is, you need to go back to the distant 1990. 28 years ago the company “Innovation Bank Technopolis” appeared. And in 2002 it was bought by Home Credit Group. From this moment the history of HKB began. The company started working almost immediately after its creation. In the summer of the same year, the first branches were opened and the first credit loans began to be issued.
People were not embarrassed by the fact that the bank was founded quite recently. It began to actively develop, attracting more and more clients.
In 2003, the Eldorado company became its partner, which made it possible to increase its coverage
A year later the company:
- Starts releasing first credit cards.
- Concludes agreements with Russian Post.
- Gets your first big profit.
A year later, Home Credit sales points appeared in all federal districts of the Russian Federation. The only thing the company did not reach was the Far East. The company gains momentum over the next couple of years.
By 2007, the company had already become a market leader. And this year will bring serious changes. By the decision of the founders, the further development strategy of the organization changes. Home Credit Bank abandons the monoliner bank model in favor of a universal retail bank.
As a result, active attraction of individuals begins. persons who began to trust their money to the company. Also appeared car loan offer. The company begins to produce simple debit cards. And this product immediately becomes very popular.
Everyone strongly associates the year 2008 with the beginning of the crisis. However, Home Credit Bank responded to the changes. He transferred his efforts specifically to issuing cash loans.
The following year, salary projects were also included in the list of services. Home Credit Bank has also introduced a lot of convenient additional services that simplify working with the bank. Clients were offered to use banking, and a convenient SMS notification system was also connected for them.
The suspended auto loan program was revived again in 2010. And in subsequent years, Home Сredit Bank is actively developing. He starts:
- Expand your network in the regions.
- Establishes new partnerships.
- Implements an agent network.
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