MariBank posts wider losses on higher allowances in FY2025
However, its total income is S$37.4 million, up from S$24.4 million in the previous year
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[SINGAPORE] Digital bank MariBank Singapore on Monday (Apr 27) posted wider losses of S$55.6 million in FY2025, from S$51.3 million in FY2024, on higher allowances for credit and other losses.
Its net interest income grew to S$30 million, from S$22.2 million previously. Non-interest income rose to S$7.3 million in FY2025 from S$2.3 million in the year before.
The bank’s loans and advances to customers surged to S$222.4 million in the financial year, from S$103.7 million in the prior year.
Its total income for FY2025 was S$37.4 million, up from S$24.4 million in FY2024. Total expenses rose marginally to S$72.5 million, from S$71.4 million previously.
Allowances for credit and other losses jumped to S$20.5 million, from S$4.4 million in the year before.
Philippines contribution
For the wider MariBank group, which includes MariBank Philippines, non-interest income was S$30.3 million in FY2025, a significant increase from S$2.3 million in the previous year. This growth was predominantly driven by net fee and commission income, which surged to S$25.9 million, accounting for approximately 85 per cent of total non-interest income.
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“This performance reflects a sharp increase in customer transaction volumes and broader service adoption across our platforms,” said a MariBank spokesperson.
“Furthermore, our FY2025 results now reflect the full scale of the consolidated group, including the strategic integration of MariBank Philippines, which has successfully diversified our fee-based revenue streams beyond our initial Singapore-only operations.”
The group’s net interest income stood at S$166 million. Its FY2025 allowances for credit and other losses stood at S$133.4 million, while total expenses were S$108.8 million. Losses for the group were slightly lower at S$46.6 million, compared with those for MariBank Singapore.
Loans and advances to customers for the group stood at S$896.7 million for the financial year.
The increase in allowances is a reflection of MariBank’s balance sheet expansion and risk management, said the spokesperson.
“This growth was supported by a substantial increase in share capital – from S$555 million to S$775 million – and a rise in customer deposits to S$2.82 billion, providing the liquidity necessary to scale our lending operations.”
MariBank group said its capital adequacy ratio of 43.41 per cent ensures that it remains well-capitalised to support continued growth throughout this financial year.
For FY2026, it will focus on scaling its core business segments while maintaining a strong capital position. Its Common Equity Tier 1 capital stood at S$565.5 million for FY2025.
The digital bank will look to expand its product offerings across loans, investment and business banking. New features are slated for launch in the second half of 2026, said the spokesperson.
MariBank will also tap both the Singapore and Philippines markets to build a digital banking ecosystem in FY2026.
“We remain committed to growing our deposit base – which already stands at S$2.82 billion – to fund customer-centric lending solutions,” said the spokesperson.
MariBank is a wholly owned subsidiary of Sea.
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