The financial technology platform, whose backers include China’s Tencent and KKR, is looking forward to a strong 2025 after key financial metrics turned positive toward the end of last year.
This sets the stage for its first year of profitability if this trajectory holds in the coming months, with momentum largely driven by its digital lending business, Maya Bank, which recorded impressive numbers in 2024.
This also means decision time is nearing for PLDT and the First Pacific Group, major backers with close to 40 percent ownership.
Maya’s stronger performance has spurred PLDT Group to consider raising its stake back to a majority. PLDT chair and CEO Manuel V. Pangilinan (MVP) previously told InsiderPH they might do so this year if some investors are willing to sell out.
But what if PLDT can’t raise its stake?
A key insider said Pangilinan is flexible and is open to selling down or even exiting.
“It depends on how talks go, and I don’t know right now if MVP is willing to wait,” the insider said. “I think he’s thinking about it both ways.”
It’s no coincidence these moves are happening as Smart Communications’ new chief operations officer, Anastacio “Boy” Martirez, hints at plans to build a payments platform that could compete with Maya.
After all, the major frustration within the PLDT Group remains rival GCash’s dominance in payments, validated by its recent valuation of $5 billion—more than twice what it was just a few years ago.
Still, Maya has a chance to win market share, thanks to its digital banking business.
“The advantage of Maya is still the digital bank,” the insider said.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
