MARIBANK has secured a digital banking license from the Bangko Sentral ng Pilipinas (BSP), becoming the seventh in the country to receive the authorization.
Prior to obtaining the license, MariBank operated under a rural bank license while offering banking services almost entirely through digital channels.
The BSP earlier raised the cap on digital banks to 10 from six, opening four additional licenses. The application process officially began in January last year.
The six other digital banks currently operating in the Philippines are UNO Digital Bank, Tonik Digital Bank, UnionDigital Bank, Overseas Filipino Bank (OFBank), Maya Bank and GoTyme Bank.
BSP Senior Assistant Governor Arifa Ala said the Monetary Board approved MariBank Philippines' request to upgrade its license on Feb. 19, 2026.
The Securities and Exchange Commission, meanwhile, approved the bank's amended articles of incorporation and by-laws on June 16, while the BSP governor issued the certificate of authority to operate as a digital bank on July 8.
MariBank officially began operating as a digital bank on July 18.
MariBank said the reclassification would not affect its existing customers, who can continue using the same banking services without taking any action.
“Existing customers can continue enjoying the same banking experience they know today,” it said.
MariBank added that it would remain under BSP supervision and that deposits of up to P1 million would continue to be insured by Philippine Deposit Insurance Corp.
BSP Deputy Governor Mamerto Tangonan welcomed the development, saying MariBank was an early supporter of the central bank's push to accelerate digital payments in the Philippines.
"Now, as a fully operational digital bank, I am confident that MariBank will deliver an even stronger value proposition — driving innovation and competition while benefiting both consumers and the broader banking industry," he said.
MariBank President Siew Ghee Kung Lim said the approval marked an important milestone for the bank and reinforced its commitment to providing simple and accessible financial services to Filipinos.
"Our goal has always been to build a bank that actually works for Filipinos by being simple, reliable, and rewarding. That doesn't change,” Lim said.
“The reclassification only positions MariBank to continue innovating and reach more Filipinos over time," he added.
MariBank is a subsidiary of MariBank Singapore Private Ltd., which is licensed by the Monetary Authority of Singapore.
