MariBank becomes 7th digital bank

MariBank has officially obtained a digital banking license from the Bangko Sentral ng Pilipinas (BSP), becoming the country’s seventh licensed digital bank and marking its transition from a rural bank to a full-fledged digital banking institution.

The regulatory approval allows MariBank to expand its digital financial services and reach more customers nationwide as demand for online banking continues to grow.

In a statement, the bank assured customers that the change in classification will not affect their accounts, deposits, or banking services.

“Our goal has always been to build a bank that works for Filipinos by being simple, reliable, and rewarding,” MariBank said. “The reclassification only positions MariBank to continue innovating and reach more Filipinos over time.”

The milestone comes shortly after MariBank was included in Forbes’ list of the World’s Best Banks in the Philippines.

MariBank is owned by Sea Limited, the Singapore-based technology company behind e-commerce platform Shopee and gaming firm Garena. The lender was previously known as SeaBank before evolving from rural bank Banco Laguna.

The bank also thanked the BSP for supporting the development of a secure and innovative digital banking industry.

Under existing regulations, customer deposits remain insured by the Philippine Deposit Insurance Corporation (PDIC) for up to ₱1 million per depositor.

The approval comes as the BSP tightens oversight of banks offering predominantly digital services. Earlier, BSP Governor Eli Remolona Jr. urged rural banks operating like digital banks to secure the appropriate digital banking license to ensure compliance with regulatory standards.

The latest development reflects the continued expansion of the country’s digital banking sector as regulators promote innovation while strengthening consumer protection and financial stability.