MariBank Philippines secures digital banking licence from BSP

By Milan Rojan

MariBank Philippines has secured a digital banking licence from the Bangko Sentral ng Pilipinas (BSP), completing its transition from a rural bank and marking a new phase in its digital banking strategy.

The licence has followed the Monetary Board’s approval of the bank’s upgrade under Resolution No. 133 on 19 February, as outlined in BSP Circular Letter No. CL-2026-035. The Securities and Exchange Commission subsequently approved the bank’s amended Articles of Incorporation and By-Laws on 16 June, while the BSP Governor issued the Certificate of Authority to operate as a digital bank on 8 July. MariBank began operating under its digital banking licence on 18 July.

In a statement to customers, MariBank said the reclassification would enable it to continue innovating and expand access to digital financial services for more Filipinos. The bank added that customers were not required to take any action and confirmed that deposits remained insured by the Philippine Deposit Insurance Corporation (PDIC).

The newly licensed digital bank has traced its origins to the Rural Bank of Pagsanjan, established in 1965 before later being renamed Banco Laguna. The institution subsequently underwent a transformation following Sea Limited’s investment and its acquisition by MariBank Singapore in 2025.

The licence has positioned MariBank to operate as a fully digital bank in the Philippines’ evolving financial services market, where regulators have continued to promote digital banking to improve financial inclusion and expand access to digital financial services.

The approval has represented another milestone in the BSP’s digital banking framework, which has sought to encourage innovation while maintaining prudential standards and consumer protection across the country’s banking sector.