Maya, PLDT Inc.’s fintech arm, delivered a clear turnaround in the first quarter of 2025 from previous year’s losses, on accelerating growth across its banking, lending, and payments businesses while increasing net profit margins.
Danny Yu, PLDT chief financial and risk management officer, reported during a press conference for the first quarter financial performance, said that PLDT’s core income held steady year on year at PHP8.8 billion supported by Maya’s positive contribution.
“Maya contributed PHP127 million in net income, a clear turnaround from the prior year’s losses, powered by robust loan growth, strong momentum in deposits, and increased payment volume,” said Yu.
“A key highlight this quarter is Maya’s turning profitable, marking a significant milestone,” Yu added.
Among Maya’s robust financial indicators include PHP44 billion in deposits (+49% YoY), cementing its leadership as the number one digital bank by deposit base and customer count, with 6.8 million customers (+88% YoY).
It’s loan disbursements reached PHP28 billion for the quarter (3x YoY), bringing total disbursements since inception to PHP120 billion. Maya also maintained healthy asset quality, with a 3.5 percent NPL ratio—well below industry averages. Maya is scaling its consumer platform through deeper product offerings.
On the consumer credit front, Maya has issued nearly 200,000 credit cards in partnership with Landers and has now announced the launch of its hi-tech premium card offering.
As the country’s best digital bank, Maya also remains the number one merchant acquirer in the country, holding the largest market share in card payments processing. In 2024, it processed over PHP1 trillion in payments for merchants across a diversified base.
Its Maya Business platform continues to serve large enterprises and MSMEs with integrated tools for payments, deposits, and credit.
PLDT Chairman and CEO Manuel V. Pangilinan cited Maya for turning profitable this year. “We can extrapolate that times four, so we look at maybe at least a billion profit for Maya for the year, for the entire year,” he said.
Orlando B. Vea, Maya founder and CEO, said expressed confidence that all its several businesses and platforms will continue to post growth. “All these platforms across the board will continue to grow in multiples this year,” he said citing the launch of its credit card offering recently. This alone is expected to created substantial traction this year, Vea said.
Driving the growth of Maya is the fact that the Philippines is still a largely unbanked sector with 37 percent of Filipinos with no bank accounts of which 31 percent have deposit balances, and only 15 percent with credit cards.
Also, he said that enterprises are largely unserved in terms of merchant processing. In this field, he said, Maya is growing two times faster than the market, which shows still a lot of unserved portion.
“We’re just probably in the initial stages of growth. We see a lot of upside in the coming months,” he said.
The Maya credit card is not just the regular credit card in the market. He said that 55 percent of Filipinos are still having difficulty getting a credit card. “I think that paints a picture of what our job is at Maya to offer something that’s not even a credit card that they know. It’s something that they deserve to have,” he aded.
