The digital lending market in the Philippines is predicted to surpass US$1 billion by the second half of 2025, driven by high consumer demand for online technologies. Non-bank digital lenders are expected to dominate the market, accounting for 55.2% or US$556.5 million, while digital banks will make up 44.8% or US$451 million. This growth trajectory is fueled by the increasing popularity of digital credit among Filipinos, government support for digitalization, and the prominence of tech-savvy Generation Z.
During the ten months of 2024, both non-bank digital lenders and digital banks generated 58.9million app downloads
During the ten months of 2024 , both non-bank digital lenders and digital banks generated 58.9 million app downloads. Should dynamics improve or maintain, Digido expects the total number of downloads for both non-bank digital lenders and digital banks to have reached approximately 73.5 million in 2024 , 56.4% more than tallied in 2023.
Commenting on the findings, Digido business development manager Rose Arreco said : “Our latest findings affirm the majority of Filipinos’ growing pivot towards digital sources of credit aspart 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.
Digital Lending Philippines Fintech Market Growth Generation Z
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