PROFITABILITY and popularity issues mean that digital bank and e-wallet platform Maya won't be going public anytime soon, PLDT Inc. Chairman and President Manuel V. Pangilinan (MVP) said.
PROFITABILITY and popularity issues mean that digital bank and e-wallet platform Maya won't be going public anytime soon, PLDT Inc. Chairman and President Manuel V. Pangilinan said.'They're not in a position to IPO in the near future, period,' he told reporters on Tuesday.'I mean, they have to demonstrate that they can be profitable starting 2025 and to be consistently profitable for at least another year,' he added.'We have a lot of work ahead of us.
'Pangilinan, however, said that Maya had an advantage in that it was a digital bank unlike GCash, which remains a mobile payments service.'The digital bank is something, it's a strength for Maya, because Globe doesn't have a digital bank. So that's an advantage. But it is not growing as fast as it should be growing,' he said.Earlier this year, Bangko Sentral ng Pilipinas Governor Eli Remolona Jr. said that digital banks in the country had yet to turn a profit.
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