MariBank becomes Philippines' seventh licensed digital bank

MariBank Philippines has officially joined the Philippines' growing digital banking sector after securing a digital banking licence from the Bangko Sentral ng Pilipinas (BSP), marking the completion of its transition from a rural bank to a fully licensed digital lender.

The BSP confirmed that MariBank's certificate of authority to operate as a digital bank was issued on 8 July, following the Monetary Board's approval of its licence upgrade in February. The Securities and Exchange Commission subsequently approved amendments to the bank's articles of incorporation and by-laws on 16 June, with MariBank commencing operations as a digital bank on 18 July.

The move makes MariBank the country's seventh licensed digital bank, joining UNO Digital Bank, UnionDigital Bank, GoTyme Bank, Tonik Digital Bank, Maya Bank and Overseas Filipino Bank.

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The approval also follows the BSP's decision to expand the number of digital banking licences available in the country from six to 10, signalling continued regulatory support for digital financial services as part of broader financial inclusion efforts.

MariBank traces its roots to the Rural Bank of Pagsanjan, established in 1965 before later becoming Banco Laguna. The institution entered a new phase after being acquired by MariBank Singapore, a subsidiary of Sea Limited, in 2025, paving the way for its transition into a fully digital bank.

For existing customers, the licence change requires no action, with the bank confirming that accounts and services will continue uninterrupted. Deposits also remain insured by the Philippine Deposit Insurance Corporation (PDIC).

BSP deputy governor Mamerto Tangonan welcomed the milestone, highlighting MariBank's longstanding support for the country's digital payments agenda.

"Now, as a fully operational digital bank, I am confident that MariBank will deliver an even stronger value proposition - driving innovation and competition while benefiting both consumers and the broader banking industry," he said.

MariBank president Siew Ghee Kung Lim said the regulatory approval reinforced the bank's long-term strategy of making banking more accessible for Filipinos.

"Our goal has always been to build a bank that actually works for Filipinos by being simple, reliable, and rewarding. That doesn't change," Lim said. "The reclassification only positions MariBank to continue innovating and reach more Filipinos over time."

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