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March 02, 2024

Maya looks at launching more loan and investment products

Digital lender Maya Bank, Inc. is planning to launch more loan and investment products this year to expand its services and improve financial inclusion in the Philippines.

The bank’s Chief Marketing Officer, Pepe Torres, said that they are considering introducing loan products for small businesses and expanding their offerings to payments, banking products such as deposits and employee payroll, as well as lending.

Maya Bank also plans to boost its investment features to encourage customers to use more of its financial services.

The digital lender, which currently has 1.5 million customers, was granted a digital banking license by the Bangko Sentral ng Pilipinas in 2022 and is owned by Voyager Innovations, Inc.


Security Bank posts net income of PHP9.1 billion in 2023

Security Bank Corporation (PSE: SECB) posted net income of PHP9.1 billion in 2023. Total revenues grew 8% year-on-year to PHP43.0 billion. Net interest income increased 19% to PHP34.7 billion. Net interest margin for the full year was 4.49%, higher compared to 4.23% in 2022. Total non-interest income was at PHP8.2 billion. Service charges, fees and commissions grew 15% to PHP6.1 billion, led by increase in fees from credit cards, remittances (which include Instapay fees) and bancassurance.

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