MAYA BANK disbursed P68 billion in loans and recorded P39 billion in deposits in 2024, it said on Wednesday.
Loan disbursements since 2022 have reached P92 billion at end-2024, the online bank said in a statement, while its total customer base stood at 5.4 million.
Maya Bank disbursed P21.5 billion in loans in 2023, up from P3.14 billion in 2022, its annual report for that year showed. Its deposits totaled P24.81 billion at end-2023 with a depositor base of 2.99 million.
“Banking should be simple and empowering,” Maya Group President and Maya Bank Co-Founder Shailesh Baidwan said. “By merging payments and banking on one delightful digital experience, we’re enabling more Filipinos to save, borrow, and grow their money with ease.”
“Our goal is to create a financial system that works for every Filipino. Whether saving for the future or expanding a business, Maya empowers users to take control of their finances,” Maya Bank President Angelo S. Madrid said.
The online bank attributed its growth to its strategy of “leveraging an extensive payments network, customer-first product design, and advanced technology to deliver financial inclusion at scale — all while improving operational efficiency and profit margins.”
“Maya’s growth comes from seamlessly integrating payments and banking into one ecosystem. The bank uses its payments network to expand its banking services while its banking products boost the growth of its payments business,” it said.
Maya Bank also offers products tailored for its customer base made up primarily of young Filipinos and small business owners, it added, with account opening and loan approvals available via its app.
The digital bank’s investments in technology and innovation have also fueled customer and lending growth, it added.
Maya Bank posted a net loss of P826.83 million in 2023, widening from the P729.77-million loss in 2022, its annual report showed.
Maya Bank is one of the six licensed digital banks in the country. It is owned by Voyager Innovations, Inc., whose main shareholder is PLDT Inc.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — AMCS
