MANILA, Philippines — More Filipinos are into credit, although significant problems still prevent many from getting loans, according to credit reporting agency CIBI Information Inc.
Pay Later/Buy Now Pay Later (PL/BNPL) products are seen growing faster than other forms of credit such as mortgages, auto financing, and credit cards. This is attributed to fintech digitization, stronger government initiatives, and improved data submissions to the Credit Information Corporation (CIC).
During CIBI’s inaugural industry summit, Metrobank Chief Economist Nicholas Mapa reported a surge in credit demand. CIBI Chief Analytics Officer Harley Chan also noted a rise in tradelines.
CIC President and CEO Ben Baltazar also reported that Filipinos have accessed over 10 million credit reports as of mid-2025.
Despite increasing credit demand, CIBI said a “trust gap” in the industry remains. Proof of this is the fact that 49 percent of Filipinos remain unbanked and only 1 percent of their loan applications are approved due to insufficient credit data. High delinquency rates and annual losses of billions of dollars to fraud also contribute to lenders being more cautious.
