PLDT plays down digital bank fundraising talk - Mobile World Live

PLDT plays down digital bank fundraising talk

14 JUN 2023

Philippines-based PLDT confirmed local media reports its digital unit Voyager Innovations was mulling fundraising activities to fuel growth of its e-wallet and digital bank unit, but added no concrete steps are in place.

In a stock market filing, PLDT explained comments made by chair Manuel Pangilinan on the sidelines of its annual shareholders’ meeting yesterday (13 June) were not to be taken as a forecast or guidance on the funding requirements of Maya Bank.

PLDT was responding to a BusinessWorld article today (14 June) stating Pangilinan said Voyager Innovations was looking to raise $100 million to $150 million to expand its fintech arm and while the company was looking to new investors, it was likely that market conditions would require current shareholders to pitch in.

The operator played down the significance of Pangilinan’s comments, stating the chair was “merely expressing his personal opinion”.

BusinessWorld also quoted PLDT president and CEO Alfredo Panlilio as saying a listing of Maya Bank is a long term option, but it first has to improve the unit’s fundamentals.

PLDT’s fintech arm received a digital banking licence from the nation’s central bank in 2021.



Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

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