Security Bank Completes Acquisition of MUFG’s 25% Stake in Home Credit Philippines

Security Bank Corporation has completed its acquisition of a 25% stake in HC Consumer Finance Philippines, Inc. (HCPH), also known as Home Credit Philippines, the country’s leading consumer financing company. This strategic move underscores Security Bank’s commitment to enhancing its consumer finance capabilities and expanding its market presence.

Security Bank has purchased a 25% ownership stake in HCPH from MUFG Bank Ltd. for a base price of PHP10.365 billion. An adjustment amount to be computed and paid within 90 days will be based on the change in net asset value of HCPH from 31 December 2023 to 30 April 2025. Krungsri (Bank of Ayudhya PCL and its business units), a subsidiary of MUFG, will continue to hold a 75% ownership stake in HCPH and remain the majority shareholder. The acquisition has received clearance from the Bangko Sentral ng Pilipinas. 

Home Credit Philippines has served over 11 million customers with a comprehensive portfolio of financial products, including installment financing, cash loans, revolving credit, and ancillary services such as insurance and warranty offerings. Home Credit is a market leader in Point-of-Sale financing, with strong partnerships with top retailers and brands, and a nationwide presence across more than 15,000 locations.

“As we complete this milestone transaction, we’re pleased to formally welcome Home Credit Philippines to the Security Bank family,” said Sanjiv Vohra, President and CEO of Security Bank. He added, “This strategic investment enables us to deepen our participation in the fast-growing consumer finance space and unlock new opportunities to better serve the evolving financial needs of Filipinos. We see strong potential in this partnership to create long-term value through complementary strengths, accelerating innovation in lending solutions, and advancing financial inclusion. Our goal is sustainable growth and meaningful returns for shareholders and stakeholders. We commit to strategies ensuring stability, reliability, and long-term value.”

“We are pleased to officially welcome Security Bank as a strategic partner in Home Credit Philippines,” said Yasushi Itagaki, Group Chief Operating Officer–International and Head of Global Commercial Banking Business at MUFG. “We are confident that Security Bank’s strong local footprint, deep market insights, and commitment to financial innovation will serve as a powerful complement to Krungsri’s regional capabilities and long-term vision for Home Credit Philippines,” he also said. “This partnership reinforces our shared objective of driving financial inclusion and expanding access to responsible consumer lending solutions in the Philippines. With Security Bank’s presence and expertise, we are optimistic about Home Credit’s continued growth and the opportunities that lie ahead,” he added.

This transaction bolsters the strategic alliance between Security Bank and MUFG, which started in 2016. It also represents the second partnership between Security Bank and Krungsri, following their SB Finance, Inc. joint venture. The acquisition aligns with Security Bank's strategic vision to become the most customer centric bank in the Philippines.

AlphaPrimus Advisors acted as financial advisor and Picazo Law acted as legal counsel to Security Bank in this transaction.

Security Bank is a private domestic universal bank in the Philippines with total assets of PHP1.1 trillion as of March 31, 2025. The Bank has been operating for 73 years since it was established in 1951. To-date, Security Bank has a total of 348 branches and 710 ATMs, Cash Recycler Machines (CRMs) and Cash Acceptance Machines (CAMs).

In 2024, Security Bank was awarded Best for High-Net-Worth in the Philippines by Euromoney/Asiamoney for four consecutive years; The Philippines' Best Bank for Corporates by Euromoney/Asiamoney for two consecutive years; Best Branch Digitisation Implementation for the Mosaic Voyager (MV) Tellering and Lobby Management System by The Asian Banker; three awards Credit Card Initiative of the Year, Sustainability Initiative of the Year, and ESG Program of the Year (Bronze) for Security Bank Wave Mastercard by Asian Banking and Finance; and Best Investor Relations Company (Philippines), Sustainable Asia Award, Asia’s Best CEO (Investor Relations), Asia’s Best CFO (Investor Relations) and Best Investor Relations Professional (Philippines) by Corporate Governance Asia for four consecutive years; 3 Golden Arrow Recognition for corporate governance excellence by the Institute of Corporate Directors (ICD).

In 2023, Security Bank was awarded Best for Mass Affluence/HNW in the Philippines by Asiamoney; Best Credit Card Product in the Philippines (for Security Bank’s Complete Cashback Platinum Mastercard) by The Asian Banker during the 2022 Asian Banker Excellence Awards; Best Retail Bank in the Philippines by Alpha Southeast Asia; Market Leader in Corporate Social Responsibility (CSR) by Euromoney; Market Leader in Diversity & Inclusion by Euromoney; Best Bank for Diversity and Inclusion by Asiamoney. The Bank’s major citations in 2021 are: Philippines’ Best Bank by Euromoney; Best for HNWs (High Net Worth Clients) in the Philippines by Asiamoney; Best Retail Bank in the Philippines by Alpha Southeast Asia; and Best Culture of Learning and Diversity Champion by LinkedIn Talent Awards.

Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with approximately 2,000 locations in more than 40 countries. The Group has about 140,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to “be the world’s most trusted financial group” through close collaboration among our operating companies and flexibly respond to all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges.