“With First Pacific we own about 40 percent [of Maya]. We don’t mind going up, raising our stake,” Pangilinan, the chair and CEO of PLDT, told InsiderPH on Tuesday.
Maya turning profitable
Maya, a payments processor and digital bank, is on track to “be at least breakeven if not positive” by the end of 2024, Pangilinan said.
PLDT noted that Maya losses have been declining this year, from P400 million in the first quarter to P200 million by the third quarter of 2024.
“Next year, their forecast will show a profit. But not as much as GCash,” Pangilinan said, adding that he believes in the long-term prospects of the company.
“We’ve held on to it for five, six years. It won’t be as profitable as GCash but at least it’s making money,” he said.
MVP eyes possible deal in 2025
Apart from PLDT and First Pacific, investors in Maya include China’s Tencent, KKR, International Finance Corp., EDB Investments, Susquehanna International Group.
Pangilinan said there were no definite talks with the groups at the moment.
However, he noted that some of the earlier investors might be keen on selling in 2025 to unwind their positions.
“There might be [interest to sell] next year, it’s already been five years,” Pangilinan said.
Growing deposits, loans
As of Sept. 30 this year, Maya Bank’s deposits reached P36 billion while its customer base expanded to 4.5 million.
Loan disbursements hit P67 billion, with strong uptake for consumer and small bsuenss credit offerings.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
