Philippine digital banks saw rapid growth in 2023 alongside mounting concerns over credit quality as gross NPL ratios soared
Philippine digital banks saw rapid growth in 2023 alongside mounting concerns over credit quality as gross NPL ratios soared
Digital banks continue to experience rapid growth in users, assets and revenue, with Brazil’s Nubank, the retail arm of ING Group and China’s WeBank leading the sector. Profitability among digital banks has improved, with a shorter time to break even.