Through our local brand onepuhunan, we provide working capital loans to lower income entrepreneurs in the Philippines.
We started operations in the Philippines in 2014 responding to the fact that almost three-quarters of the population are not adequately served by the existing financial institutions.

Operations Philippines

CreditAccess began operations in the Philippines in 2014 – a direct response to the fact that almost three-quarters of the population are not adequately served by existing financial institutions. Of late, the Philippines has restored stability and showed solid economic growth with high resilience to adverse events including the global economic crisis and natural disasters. The country is considered an emerging market due to its skilled labour force and sound economic fundamentals. Nonetheless, income inequality remains high and a large proportion of the population is considered poor. Only 10% of this lower income group has access to formal financial services (Worldbank, 2011).  The large untapped market potential and the stable macro environment create an interesting opportunity to deliver financial services in the Philippines.

Through our brand name OnePuhunan, we provide working capital loans to lower income entrepreneurs. OnePuhunan is supervised by the Philippines Securities and Exchange Committee.  After positive client feedback during the pilot phase, in the first half of 2014, our operations in the Philippines started and were quickly rolled-out. This implied setting up new branches, working on promotion and brand awareness among prospective clients and training staff. As of today, we have already built up an extensive network of 110 branches reaching 70,000 clients. Our aim: to reach 1 million clients by 2020.

In addition OnePuhanan offers life insurance. Our products are developed with a high level of simplicity and transparency. In this way we aim to be an example for other market players who, generally, offer more complex products, often with hidden costs. Loans are offered through the Grameen Group Lending Model which has been adjusted to fit the local market conditions. Following the proven practices of the CreditAccess Group, OnePuhunan’s risk control is strongly centralized using the same mobile and ICT technology.