Gokongwei-backed GoTyme Bank has raised its year-end customer target to 12.5 million from 12 million, as monthly customer additions surged to 450,000-500,000, nearly doubling from its previous pace.
Speaking at the Economic Journalists Association of the Philippines infrastructure forum, GoTyme CEO Nate Clarke said the digital bank currently has about 11.5 million customers.
Clarke said they expect to add more than 400,000 new customers per month over the next 12 to 18 months, driven by stronger brand recognition, broader product offerings, and the rollout of Apple Pay in August.
‘There are now seven digital banks. We’re contributing half of the new bank accounts opened every month. We are very hungry for new customers,’ Clarke said.
Despite the faster pace of customer acquisition, however, Clarke said they do not expect to bring forward their profitability target.
‘It’s the cost to acquire new customers. In the short term, the operating expenses will increase as we add an extra 200,000 customers per month. But we’re still targeting profitability next year,’ Clarke said.
‘Loan book growth and disbursements are really good, so that helps us,’ he added.
Clarke stated that deposits have increased by about 80 percent year on year, and he expects transactions to rise by about 100 percent by year-end, in addition to customer growth.
Lenders expect monthly loan disbursements to more than double, reaching about P2 billion by year-end, up from around P1 billion per month previously.
MoreTyme, the bank’s universal credit line, is driving most of the lending growth, while payroll lending for small and medium enterprises is also growing. MoreTyme remains invitation-only for now, with about 1.2 million customers invited to access the product. The bank plans to expand invitations to 2 million customers by the end of 2026 and allow all customers to apply by the end of the first quarter of 2027.