PLDT reports P25.8B core income, Maya digital bank boosts performance

PLDT Inc. reported a stable core income of P25.8 billion for the first nine months of the year.

Gains from its digital bank Maya, which posted P532 million in net income for the third quarter, offset a decline in its traditional telecommunications business.

Maya's deposit balances reached P57 billion at the end of September, a 59 percent year-on-year increase, and total loan disbursements reached P187 billion.

Consolidated service revenues increased by 3% to P158.9 billion, driven by the data business and a 7% growth in home fiber services.

Despite a 11% fall in its bottom line to P25.1 billion due to lower noncore gains and higher charges, PLDT's chairman Manny V. Pangilinan expressed confidence in weathering market pressures and aiming for excellence in growth.