Maya, the country’s leading digital bank, said it disbursed over P92 billion in loans since 2022.
About 70 percent of its customers reside outside Metro Manila, where lending and savings activities are growing faster than in the capital.
“Banking should be easy, inclusive, and delightful,” said Maya Group president and Maya Bank co-founder Shailesh Baidwan.
“Our growth outside Metro Manila highlights how digital banking is driving financial inclusion at scale,” he said.
A 2021 study by the Bangko Sentral ng Pilipinas (BSP) reveals that over half of Filipino adults still save money at home or rely on informal lenders. Maya tackles this by simplifying banking: opening an account takes just one valid ID, and customers can save with no minimum balance while earning competitive interest rates through Maya Savings.
Maya’s app also processes loans instantly, using alternative data and transaction insights to assess creditworthiness, removing the need for collateral or extensive paperwork.
Active borrowers for Maya Easy Credit in non-Metro Manila regions grew 82 percent year-on-year, outpacing Metro Manila’s 64 percent growth as of December 2024. Regional borrowers accounted for over 70 percent of Maya’s overall borrower growth.
Maya Easy Credit, a 30-day credit line, enables users to pay bills, purchase load, shop online or in-store and transfer funds to their Maya Wallet when additional cash is needed.
Savings growth mirrors Maya’s regional success, with deposit balances in non-Metro Manila areas rising 67 percent year-on-year as of December 2024, compared to Metro Manila’s 47 percent. Regional areas now drive over half of Maya’s total deposit growth.
Maya offers consumers a range of savings options tailored to their needs, including Maya Savings, Personal Goals, and Time Deposit Plus products.
“Outside Metro Manila is where the most transformation is happening,” said Maya Bank president Angelo Madrid. “The surge in savings and credit shows our platform’s impact on more Filipinos.”
Traditional banks allocate over 80 percent of their lending portfolios to Metro Manila, according to BSP data as of June 2024. Maya is shifting this trend, with regional loan drawdowns surging 137 percent year-on-year, contributing nearly 70 percent of its lending growth.
“With digital banking that’s intuitive, we’re reaching communities that have been underserved for far too long. We’re empowering more Filipinos with the tools to take charge of their financial future,” Baidwan said.