PH digital lending market seen to exceed $1 billion in 2025
Provided by INQUIRER.net.
MANILA, PHILIPPINES – The Philippine digital lending market can exceed 1 billion USD in the second half of 2025.
The digital lending market consists of duly-registered non-bank digital lenders and digital banks.
READ: PH fintech adoption via mobile apps to hit 80% by 2024
This projected billion-dollar market size is significantly higher than the United States, which would likely tally $796 million by the end of 2024.
Online lending agency Digido reveals the former will probably occupy 55.2% or $556.5 million, in terms of market structure.
On the other hand, digital banks will make up 44.8% or $451 million.
Also, both generated 58.9 million app downloads during the ten months of 2024.
Digido says the total number of downloads may have reached approximately 73.5 million that same year, exceeding the 2023 total by 56.4%.
From 2013 to 2023, the Philippine digital lending market has an average annual growth rate of 28% or $68 million.
Digido business development manager Rose Arreco commented on these projections:
“Our latest findings affirm the majority of Filipinos’ growing pivot towards digital sources of credit as part of their personal finance management.”
“We are optimistic that these lending segments will be able to maintain their high growth rates in view of its accessibility for the financially underserved, progressive government support, and various projects promoting further digitalization.”
“This growth trend is also largely determined by the fact that a third of the country’s population is from Generation Z…”
“...a segment certainly ready to fully accept innovative solutions in the field of financial technologies for mobile applications.”
Digital banks refer to the six digital banks with licenses from the Bangko Sentral ng Pilipinas.
Non-bank digital lenders are financing and lending companies and their online lending platforms, according to the Securities and Exchange Commission (SEC).
(2025/01/08-12:08)
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