Maya sees sustained profitability

MAYA GROUP expects to remain profitable this year as its digital bank continues to roll out more products to tap different market sectors.

- A.M.C. Sy

MAYA GROUP expects to remain profitable this year as its digital bank continues to roll out more products to tap different market sectors.

“We became profitable in December, and we continue to be profitable month on month since then,” Maya Group President and Maya Bank Co-Founder Shailesh Baidwan told reporters on the sidelines of an event late on Wednesday.

“[It’s still] early days for our credit card business, but at this stage, we are extremely happy with the way the customers are using our products. And with the profitability profile of our products, we expect to sustain the profitability for the rest of the year,” Mr. Baidwan said.

Maya Bank on Wednesday officially launched its Maya Black credit card, which is its second card product and seeks to cater to first-time credit cardholders through secured and unsecured credit lines, fast digital approval, instant virtual issuance, and full in-app control. The card also offers other perks like rewards points called Maya Miles, airport lounge access via DragonPass.

Maya Black now has over 40,000 cardholders following the card’s pilot rollout in May. Overall, the digital bank has issued over 230,000 credit cards since August 2024, including its co-branded card with membership shopping mart Landers Superstore.