Uno Digital Bank eyes profitability by 2024

MANILA - Uno Digital Bank is looking to become profitable by next year, its head said on Monday. 

Uno said that nine months since opening, it has already amassed 600,000 customers and booked P3.5 billion in deposits. 

Manish Bai, CEO of Uno Asia, said they are looking to leverage their high interest rates to lure depositors while providing easier onboarding procedures as well as applications for borrowers. 

"When we speak to people, it's shocking but still 50 percent of the people I talk to are not yet aware that you can get interest rates over 1 percent," Bai said. 

He added that they are on track to hitting P5 billion in deposits within a year of opening. Bai also said they are looking to secure more funding to hit their goal of profitability by 2024.

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