PH digital banks' impact remains limited: Fitch Ratings

ABS-CBN News

MANILA -- Digital banks in the Philippines still have a limited impact on the Philippine market, according to Fitch Ratings. "We're looking at an aggregate market share of 0.4 percent, so that is very miniscule in the greater scheme of things, said Fitch Director for Asia-Pacific Financial Institutions Tamma Febrian.Febrian said Fitch doesn't expect the <a href='https://news.abs-cbn.com/business/08/24/22/6-digital-banks-allowed-to-fully-operate-bsp'>6 digital banks</a> in the country to have a significant impact on the competitive landscape."One is, because, I think even with kind of like 20, 30 percent growth rate, their market share will remain relatively small," he said."Secondly, I guess, if you take a look at the strategy that some of the banks are employing, i.e. those that are relying so much on the pricing to get customers, we don't think that is going to be sustainable in the long run," he explained. "So there's going to be some sort of moderation going forward, and also moderation in growth rate as well," he said.--ANC, 11 December 2023

"Secondly, I guess, if you take a look at the strategy that some of the banks are employing, i.e. those that are relying so much on the pricing to get customers, we don't think that is going to be sustainable in the long run," he explained. "So there's going to be some sort of moderation going forward, and also moderation in growth rate as well," he said.--ANC, 11 December 2023

Febrian said Fitch doesn't expect the <a href='https://news.abs-cbn.com/business/08/24/22/6-digital-banks-allowed-to-fully-operate-bsp'>6 digital banks</a> in the country to have a significant impact on the competitive landscape."One is, because, I think even with kind of like 20, 30 percent growth rate, their market share will remain relatively small," he said.

MANILA -- Digital banks in the Philippines still have a limited impact on the Philippine market, according to Fitch Ratings. "We're looking at an aggregate market share of 0.4 percent, so that is very miniscule in the greater scheme of things, said Fitch Director for Asia-Pacific Financial Institutions Tamma Febrian.

Digital banks in the Philippines still have a limited impact on the Philippine market, said Fitch Ratings. 

PH digital banks' impact remains limited: Fitch Ratings | ABS-CBN News

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PH digital banks' impact remains limited: Fitch Ratings

PH digital banks' impact remains limited: Fitch Ratings