MariBank posts wider losses on higher allowances in FY2025
But, its total income is up at S$37.4 million, 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.
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.
Loans and advances to customers surged to S$222.4 million in the financial year, from S$103.7 million in the prior year.
Total income for FY2025 was up at S$37.4 million, from S$24.4 million in FY2024. Total expenses rose only 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.
For FY2025, MariBank Singapore also reported its financial statement with subsidiary MariBank Philippines for the first time.
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As a group, net interest income stood at S$166 million, and non-interest income was S$30.3 million.
The group’s 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.
MariBank is a wholly owned subsidiary of Sea.
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