As of June 2024, Maya Bank had the highest asset value among digital banks in the Philippines. Maya Bank registered a total asset value of about 38.11 billion as of this period. GoTyme follows, with assets amounting to 23.4 billion Philippine pesos.
Maya Bank
Maya Bank is a digital bank owned by Voyager Innovations, which also owns Maya wallet, and is among the leading e-wallet applications in the Philippines. Although it has only been in business for the past two years, Maya Bank has significantly grown its deposit balance, and its loan portfolio to about three times higher than in 2022.
Digital banking in the Philippines
The Philippine central bank first introduced digital banking in 2021 and has approved licenses to operate for six banks: Maya Bank, GoTyme Bank, Overseas Filipino Bank, Tonik Bank, UnionDigital Bank, and Uno Digital Bank. In 2023, the total value of deposits at digital banks has shown a 97 percent increase from the previous year. The central bank announced that it will resume accepting applications for digital banking licenses in 2025 to further expand the industry.
Digital banks in the Philippines as of June 2024, by asset value
(in billion Philippine pesos)
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BSP. (August 2, 2024). Digital banks in the Philippines as of June 2024, by asset value (in billion Philippine pesos) [Graph]. In Statista. Retrieved December 21, 2024, from https://www.statista.com/statistics/1347059/philippines-leading-digital-banks-by-assets/
BSP. "Digital banks in the Philippines as of June 2024, by asset value (in billion Philippine pesos)." Chart. August 2, 2024. Statista. Accessed December 21, 2024. https://www.statista.com/statistics/1347059/philippines-leading-digital-banks-by-assets/
BSP. (2024). Digital banks in the Philippines as of June 2024, by asset value (in billion Philippine pesos). Statista. Statista Inc.. Accessed: December 21, 2024. https://www.statista.com/statistics/1347059/philippines-leading-digital-banks-by-assets/
BSP. "Digital Banks in The Philippines as of June 2024, by Asset Value (in Billion Philippine Pesos)." Statista, Statista Inc., 2 Aug 2024, https://www.statista.com/statistics/1347059/philippines-leading-digital-banks-by-assets/
BSP, Digital banks in the Philippines as of June 2024, by asset value (in billion Philippine pesos) Statista, https://www.statista.com/statistics/1347059/philippines-leading-digital-banks-by-assets/ (last visited December 21, 2024)
Digital banks in the Philippines as of June 2024, by asset value (in billion Philippine pesos) [Graph], BSP, August 2, 2024. [Online]. Available: https://www.statista.com/statistics/1347059/philippines-leading-digital-banks-by-assets/
