Home Credit Philippines said it respects the mandate and penalty imposed by the Securities and Exchange Commission (SEC) over allegations of unfair debt collection practices.
In a statement, the company said that while it has formally filed an appeal, it continues to strictly comply with all lending and collection regulations.
Home Credit emphasized that the fair treatment of its customers remains a fundamental part of its operations.
The company also said it is continuously reviewing and strengthening its collection practices, including customer engagement procedures and the management of its collection partners.
In closing, Home Credit Philippines reiterated its commitment to responsible and ethical lending in order to better serve its customers.
The company added that it believes the matter should be addressed through the proper legal and regulatory processes.
