MORE Filipinos are obtaining loans, although “trust gaps” hinder further growth, 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, CIBI noted, attributing it to fintech digitization, stronger government initiatives, and improved data submissions to the Credit Information Corp. (CIC).
At the CIBI Impact 2025 Summit, Metrobank chief economist Nicholas Mapa reported a surge in credit demand, while CIBI chief analytics officer Harley Chan cited a rise in tradelines.
Consumers are also increasingly engaging with credit reports, with CIC President and CEO Ben Baltazar reporting that Filipinos have accessed over 10 million credit reports in the first half of the year.
Demand is also expected to grow with lending activity.
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Read more: MSN
