Maya sustains profitability in Q1

MANILA, Philippines — Digital finance Maya Group turned in a profit in the first quarter of the year, extending its stay in the black on the back of growing deposits and more lending.

Maya yesterday said it carried over its financial momentum from the end of 2024 to early 2025, booking a profit in the first quarter by accelerating the growth of its revenue.

From January to March, Maya disbursed close to P28 billion in loans to borrowers, raising its total lending to P120 billion.

As such, Maya’s loan-to-deposit ratio increased to above 51 percent, signifying the resilience of its credit business as more lenders become available. Moreover, Maya is strengthening its deposit base to solidify its position as the largest digital bank in the Philippines.

As of March, Maya has booked P43.6 billion in deposits, which is about double the next biggest digital bank. Maya plans to further expand its customer base, seeing opportunities in the growing demand for digital finance.

Asset-wise, Maya said its non-performing loan ratio stood at 3.8 percent, well below the average among digital banks in the country.

Maya president Shailesh Baidwan said the company also has its eyes set on sustaining its lead as the largest merchant acquirer for digital payment.

In 2024, Maya handled more than P1 trillion in payments for merchants, processing transactions for businesses of all sizes, including micro, small and medium enterprises.

Baidwan said Maya would keep on innovating new solutions to widen its customer base. He also committed to scale up Maya’s ecosystem to cover more merchants and potential borrowers.

PLDT Inc., which owns a partial stake in Maya, raised its profit by 21 percent to P32.31 billion in 2024, from P26.61 billion in 2023. Apart from spending cuts, PLDT attributed the growth to Maya’s building momentum in loan disbursement and payment handling.

As reported in its financial report, PLDT’s losses in Maya were reduced by more than half to P1 billion in 2024, from P2.2 billion in 2023.

Maya became profitable for the first time in December 2024, and PLDT projects the company to stay in the black this year.