MariBank Philippines Stays in the Black for Two Years as Assets Hit US$1.16 Billion

At the end of the day, every bank is in it to make a profit. Nobody signs up for the banking game planning to lose money.

But if you’ve been watching the digital-first banking scene across Southeast Asia, you’ll know that turning a profit has been more of a dream than a reality for most.

Just look at Malaysia, where recent months have been full of C-level exits in the digital banking space.

Scroll through Fintech News Malaysia, and it’s obvious that a lot of these departures come down to one thing:

The relentless pressure to actually make the business profitable.

But that’s not the case for everyone. MariBank Philippines, for example, seems to be playing a slightly different tune.

The bank’s President, Siew Ghee Kung Lim, shared on LinkedIn that they’ve broken even for two years running, FY2024 and FY2025.

That’s no small feat when most digital banks and digital-first banks are still laser-focused on growth, growth and growth.

Lim added that:

A point that underscores how the bank’s experience could offer valuable insight for the wider market.

Their 2025 balance sheet gives us a peek behind the curtain, showing how they’re making this work while the rest are still figuring it out.

Not a Digital Bank Licence, but a Digital-Led Model

Take a second before as Lim was very careful to clarify the bank’s positioning, as it is best to note (as not everyone knows about or is able to distinguish this) that MariBank operates as a rural bank with a digital-centric model and is not a licensed digital bank under the Philippines’ digital bank framework, like the ones on this list.

That distinction is worth keeping in view as the economics, capital expectations, and growth paths can look different between licensed digital banks and digitally driven rural banks.

MariBank’s experience, therefore, adds another data point to the broader conversation around sustainability in the Philippines.

Lim wrote that the back-to-back breakeven performance gives the team confidence that the digital banking model can work locally.

The numbers suggest progress, although the journey is still unfolding.

Note: Each currency conversion is based on the current rate of US$ 1 = PHP 58.63 as of 4th March 2026.

Balance Sheet Gains Pace Through 2025

Growth remained a clear theme throughout the year.

Total assets expanded from about US$ 636.2 million in the first quarter to roughly US$ 1.16 billion by the end of December 2025 which represents a sizeable balance sheet step-up within twelve months.

Funding growth has also kept pace whereby their deposit liabilities rose from about US$ 550.9 million earlier in the year to US$ 975.6 million in the fourth quarter.

The ability to attract deposits at scale continues to be one of the more important signals for any digital-led bank.

Lending activity also moved higher.

Net loan portfolio increased from roughly US$ 330.9 million to about US$ 545.8 million across the same period.

The loan book is still growing faster than many traditional rural banks, which aligns with the bank’s digital acquisition strategy.

Taken together, the data points to a franchise that is still in expansion mode rather than one that has shifted into balance sheet consolidation.

Profitability Signals Turn Positive

Returns improved as the year progressed.

Return on equity reached 13.21% in the fourth quarter, up from the mid single digit range earlier in the year.

Return on assets closed at 1.25%. Both indicators suggest the bank is beginning to extract more earnings from its growing asset base.

Net interest margin remained elevated at around 20.40%.

That level reflects the bank’s lending mix and pricing strategy, although sustainability will ultimately depend on how funding costs evolve as competition intensifies.

Credit quality has so far remained contained.

Gross NPL ratio stayed below 2% throughout 2025 and ended the year at 1.74%.

Coverage ratios remained high, indicating a conservative buffer against potential deterioration.

For now, asset quality does not appear to be under strain, but this will be an area to watch as the loan book continues to season.

Capital Position Strengthens Alongside Growth

Capital buffers improved during the year, supported by fresh equity.

Total shareholders’ equity rose to about US$ 112.6 million by December. The capital adequacy ratio climbed to 14.15%, providing additional headroom for continued expansion.

Liquidity also remained comfortable.

The minimum liquidity ratio stayed above 50% through the year, suggesting the bank is not facing near-term funding pressure despite offering competitive deposit features.

Lim acknowledged that product benefits may be adjusted when market conditions shift.

At the same time, he expressed confidence that the bank can sustain attractive rates, free transfers and cashback offerings over the longer term.

Momentum Is There. Durability Is the Question

Two consecutive years of breakeven is a meaningful milestone, particularly in a segment where profitability timelines have often stretched longer than initially expected.

Still, the Philippines digital banking landscape is far from settled. Licensed digital banks are continuing to scale, while new entrants are preparing to test the market’s economics.

MariBank’s trajectory shows that a digital-led approach within a rural bank framework can move toward sustainability.

Whether those economics hold as competition tightens and customer acquisition costs rise will be the more telling phase.

For now, the numbers suggest progress. The next stretch will determine how durable that progress really is.

Featured image: Edited by Fintech News Philippines based on an image by nampix via Freepik.

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