ABS-CBN News Channel’s Post

Transcript

About 80% of our gross profits is comes from the transactional and savings products. We're still relatively early stage on the lending side, but that is growing quickly. We'll end the year over 2 billion, two billion in outstanding balances on the on the lending side and that is led by predominantly our payroll lending business as well as increasingly a merchant cash advance SME lending product as I mentioned earlier, the big focus for us. Is to expand that unsecured lending both in the payroll side and buy now pay later next year and also getting into investments. But if you take a step back, so for roughly 8020 now if you look ahead towards break even a couple years from now, it'll be more like the other way. It'll be 60% lending in about 40% payments if I. Compare that to South Africa when we broke even after five years, South Africa was roughly 5050 fee income from payments and savings and then 50% from lending. And they're also trending towards 6040. So in the longer term, we're going to be more heavily skewed towards lending. But in the early days of our strategy, the first few years we're reliability, legwork, transaction and savings lead, we skew towards the fee income side. We're off track on 2025, but more on track in the longer term. The reason we've actually pushing back our expected break even until probably the middle to end of 2026. So it's a six to nine month delay in the original plan is the pace of growth. Your original plan saw us you know probably growing about 30 to 40% slower than we are now. And I think especially now with the entrance of a a new bank, we're definitely prioritizing creating longer term value. And building a much bigger business. So in our latest forecast we've we're targeting a 2026 break even the full year profitability will 2027.