In a statement on Feb. 27, 2025, the firm said it also issued over 125,000 credit cards within six months, reflecting strong demand for its financial products.
"Achieving profitability at the group level while scaling rapidly underscores our ability to drive sustainable growth," said Shailesh Baidwan, Maya Group president and Maya Bank co-founder. "We are building a digital-first financial ecosystem that is accessible, innovative, and designed to empower millions of Filipinos consumers and MSME to save, borrow, invest and make and receive payments."
Maya said it is one of the few digital banks in the Philippines to achieve profitability, supported by its integrated ecosystem of payments and digital banking solutions.
Credit expansion drives growth
Since launching in August 2024, Maya said its first credit product, the Landers Cashback Everywhere Credit Card, has seen strong adoption. The fully digital application and instant activation via the Maya app have made it popular among first-time credit users, who account for nearly 40 percent of its cardholders.
The firm said its product has also gained traction outside Metro Manila, with 60 percent of users based in provincial areas. By streamlining the credit approval process, Maya said it has widened access to financial services for more Filipinos.
Growth and profitability
Maya’s expansion into consumer credit is part of a broader strategy to scale its digital banking, payments, and lending services.
As of the end of 2024, Maya’s banking customer base grew 71 percent year-over-year to 5.4 million, while its borrower base nearly doubled to 1.6 million. Deposits reached P39 billion, up 59 percent from 2023, and cumulative loan disbursements totaled P92 billion.
Maya also maintained leadership in digital payments, holding the largest market share in card acquiring and QR PH transactions, further cementing its position as the Philippines’ top “omni-channel” payments processor.
Expanding business banking, MSME support
Beyond consumer credit, Maya said it has expanded its enterprise solutions, launching business banking services such as Maya Business Deposit and custom loan terms for small businesses. These initiatives aim to enhance financial flexibility for micro, small, and medium enterprises, aligning with its goal of promoting financial inclusion.
With its momentum in banking, lending, and payments, Maya said it is focused on scaling its credit portfolio, enhancing enterprise solutions, and driving sustainable growth across its ecosystem.
-- Edited by Daxim L. Lucas
