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SB Finance partners with KServico

SB FINANCE CO., INC., the joint-venture consumer lending firm of Security Bank Corp. and Thailand’s Bank of Ayudhya (Krungsri), announced their partnership with appliance and motorized vehicle dealer KServico on Monday on payment options for customers.

SB Finance said in a statement that they will be offering installment payment options through its Pay Hooloogan service to customers of KServico.

“We are grateful to SB Finance for offering the Pay Hooloogan service to our customers. This addition to our payment options allows customers to get the things they aspire for. We’re optimistic that through Pay Hooloogan, more Filipinos will be able to get the things they want, on their terms,” Kservico President Lolita Mercado was quoted as saying.

SB Finance said under the partnership, customers can avail of financing options with no down payment through Pay Hoologan.

“With Pay Hooloogan, Filipinos can get the things they need with easy, convenient and affordable payment options. This partnership helps us reach more Filipinos and help make their dreams a reality,” SB Finance President Abbie Casanova said.

Pay Hooloogan gives customers a P200,000 credit line payable in installment terms within 48 months. The service can be accessed through the Zuki mobile app.

Clients do not need to have accounts with Security Bank Corp., SB Finance’s parent, to use the app.

SB Finance offers multi-purpose personal loans. Its main product offerings via the Zuki mobile app, which was launched in March, include Pay Hooloogan, personal loans, Car4Cash, and MotorsikLOAN.

Meanwhile, KServico sells motorcycles, appliances, computers and furniture. It has over 185 stores in Metro Manila  and Luzon areas and 128 stores in Visayas and Mindanao through EMCOR, Inc., their affiliate company.

SB Finance’s parent Security Bank posted a net income of P2.3 billion in the third quarter, up 35% from the year prior, amid increased revenues.

This brought its nine-month net profit to P8.6 billion, 77% higher year on year, on the back of the growth in its core businesses and lower loan loss provisions.

Security Bank shares gained 50 centavos or 0.56% to close at P89.90 apiece on Monday. — A.M.C. Sy

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