Digital bank Maya Bank may reach profitability by the close of 2024, supported by strong growth in its deposit base and expanding customer reach, as revealed by PLDT during the financial and operations briefing.
According to PLDT, which is the main shareholder of Voyager Innovations, Inc., the owner of Maya Bank, y the end of September, Maya reported that its total deposits climbed to P36 billion, largely due to its unique savings products and competitive interest rates.
The digital bank’s customer base reached 4.5 million. Its growth in banking services has also been accompanied by a significant increase in loan disbursements, which hit P67 billion. These loans include Maya Easy Credit and Maya Personal Loans for individual consumers, alongside Maya Advance, aimed at small and medium enterprises (MSMEs). A total of 1.4 million borrowers now utilize these credit products, marking a crucial step in Maya’s goal to provide more accessible financial options for Filipinos.
Maya’s digital wallet has also expanded its offerings to meet the evolving needs of users. New features and products continue to position Maya as a key player in digital transactions, contributing to financial inclusion efforts across the country. The platform currently leads in cards and QRPH (Quick Response Code Philippines Standard) transactions, solidifying its role in the nation’s digital payment infrastructure.