Cheyenne Suarez

Maya becomes profitable in first quarter of 2025

Article (news)

Benise Balaoing

ABS-CBN News

<div><br/></div><div><br/></div><p>MANILA -- Maya is now profitable, the PLDT-backed fintech said in a statement Monday after<span style="background-color:transparent"> looking to break even in 2024.</span></p><div><a href="https://www.abs-cbn.com/business/2024/3/7/maya-seen-to-break-even-this-year-2102" rel="noopener noreferrer" target="_blank">Maya seen to break even this year</a></div><div><a href="https://www.abs-cbn.com/business/2024/8/13/maya-eyes-breaking-even-in-december-2120" rel="noopener noreferrer" target="_blank">Maya eyes breaking even in December</a></div><p>The digital bank said its first quarter performance came on the back of robust lending and strong deposits and payments. More specifically, loan disbursals reached nearly P28 billion. Deposits also hit P43.6 billion, making it the largest digital bank in the country by deposit base.</p><p>Maya also noted that its deposits are approximately double that of the next largest digital bank. It also said it processed over P1 trillion in payments for merchants in 2024.</p><p>“We are proud to deliver strong growth across all our products, continued scaling of our integrated ecosystem, and achieving net income profitability in Q1 2025,” said Maya Group President Shailesh Baidwan.</p><p>“This reflects the strength of our model—anchored on innovation, disciplined execution, and a clear mission to expand access to digital financial services for millions of Filipinos,&quot; he added.</p><p>Going forward, the company said it wants to expanding its credit portfolio and grow its consumer platform with products like credit cards.</p><div><a href="https://www.abs-cbn.com/news/business/2025/2/28/maya-or-smart-money-pangilinan-says-only-one-stays-1224" rel="noopener noreferrer" target="_blank">Maya or Smart Money? Pangilinan says only one stays</a></div><p>Newspaper BusinessWorld in February reported that digital banks in the Philippines remained in the red in 2024, with the sector posting a P7.07-billion net loss as of end-December.</p><p>Aside from Maya, the other digital banks in the Philippines are <a href="https://www.abs-cbn.com/business/01/05/24/growing-your-money-should-you-save-in-digital-banks" rel="noopener noreferrer" target="_blank">UnionDigital Bank, GoTyme Bank, Tonik, Unobank, and the Overseas Filipino Bank of LandBank.</a></p><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/TSPIFjfFvas?&amp;pp=0gcJCX4JAYcqIYzv&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div>