Derek Hung's questions to PLDT Inc (PHI) leadership • Q2 2025
Question
Derek Hung of CLSA asked about Maya's financial performance, specifically questioning if the increase in Net Interest Margin (NIM) to 20% was driven by credit cards, how this relates to the uptick in Non-Performing Loans (NPLs), and if a net income split between banking and merchant acquiring could be provided.
Answer
Aayush Jhunjhunwala, Chief Investment Officer of Maya, confirmed that new longer-tenure products like credit cards and personal loans contribute to NIM growth and a near-term rise in NPLs, which are expected to stabilize. He also cited rising loan-to-deposit ratios (LDRs) as a key driver for NIMs. Mr. Jhunjhunwala declined to provide a net income split but noted that more detailed financials for Maya Bank would be released soon.