Philippine digital lending may exceed $1b in H2 2025

Digital lenders may make up 55.2% of the market share, says Digido.

The Philippines’ digital lending market may exceed $1b in the second half of 2025, on the back of high demand for online technologies from consumers, according to a study by Digido.

In a January 2025 report, the loan finance company estimates that digital lenders will make up 55.2% or $556.5m of the market, whilst digital banks will account for 44.8% or $451m.

In end-2024, the digital lending market in the Philippines was expected to be worth $796m. In 2023, the market tallied $693m.

Non-bank digital lenders and digital banks generated 58.9 million app downloads in the first 10 months of 2024, Digido found.

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 in 2023.

From 2013 to 2023, the Philippines’ digital lending market has been growing at an average of 28% (US$68m) per year.

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