THE Philippine digital lending market is expected to surpass $1 billion in the second half of 2025 due to growing demand for online technologies according to the latest report of Digido.
This projected market size is a significant increase compared to the $796 million forecast for the end of 2024 and the $693 million recorded in 2023.
The market, which includes registered non-bank digital lenders and digital banks, saw 58.9 million app downloads over the first ten months of 2024.
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 percent more than tallied in 2023.
From 2013 to 2023, the Philippines’ digital lending market has been growing at an average of 28 percent or $68 million per year.
“Our latest findings affirm the majority of Filipinos’ growing pivot towards digital sources of credit as part 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 under-served, progressive government support and various projects promoting further digitalization,” Dig-ido business development manager Rose Arreco said.
“This growth trend is also largely determined by the fact that a third of the country’s population is from Generation Z — a segment certainly ready to fully accept innovative solutions in the field of financial technologies for mobile applications,” Arreco added.
Digido’s trusted services have been lauded by the Global Retail Banking Innovation Awards Interna-tional Finance Awards, World Business Outlook Awards, International Business Magazine Awards, Pan Finance Awards, The Global Economics Awards, the Global Banking & Finance Review and the Global Financial Market Review.
