PH digital bank deposits reached nearly P139B in 2025

The country’s six digital banks amassed nearly P139 billion in deposits as of last year, with funding growth continuing to outstrip that of traditional lenders as competition intensifies in the fast-expanding virtual banking sector.

Data from the Bangko Sentral ng Pilipinas (BSP) showed that deposits in digital banks reached P138.5 billion at the end of 2025, up nearly 44 percent from a year earlier. Those funds were spread across 33.9 million accounts, a 75 percent increase year-on-year.

The industry’s customer base expanded just as quickly. Digital banks counted 22.4 million depositors as of last year, an 81-percent jump from 2024, underscoring their deepening reach into segments of the retail market long underserved by brick-and-mortar lenders.

Such a performance beat the entire Philippine banking system, whose total deposits increased by 7.4 percent to P22 trillion. Those funds were kept across 171.3 million bank accounts, up by 19 percent.

That number included traditional big banks that mainly provide loans to borrowers with tested credit profiles. According to the BSP, deposits held by large lenders grew by 7 percent to P20.4 trillion.

Moving forward, analysts said the decision of the BSP to reopen the digital banking sector to four more players would fire up competition for deposits.

See Also

The SME investment paradox: How to grow while cutting costs in 2026

BSP Deputy Gov. Lyn Javier, head of the department regulating banks, has said the central bank has begun reviewing applications and could select the candidates to be recommended to the Monetary Board within the first quarter of the year.

The BSP received three applications before the deadline late last year. It seeks to expand an industry that currently includes UNO Digital Bank, UnionDigital Bank, GoTyme, Tonik Digital Bank, Maya Bank and the Overseas Filipino Bank, a subsidiary of the state-run Land Bank of the Philippines.