MariBank Philippines, Inc. (A Rural Bank) has received a digital banking licence from the Bangko Sentral ng Pilipinas (BSP), completing its upgrade from a rural bank, changing its name now under the corporate name MariBank Philippines, Inc.

The Monetary Board approved the upgrade under Resolution No. 133 on 19 February, according to BSP Circular Letter No. CL-2026-035.

The Securities and Exchange Commission cleared MariBank’s amended Articles of Incorporation and By-Laws on 16 June.

Later, BSP Governor issued the bank’s Certificate of Authority to operate as a digital bank on 8 July.

MariBank began operating under its new digital banking licence on 18 July.

In a social media post to customers, MariBank said the reclassification positions it to keep innovating and reach more Filipinos, adding that deposits remain PDIC-insured and no action is required from existing customers.

The bank thanked the BSP for its guidance in fostering a safe and innovative banking sector.

A Long History Behind the Digital Bank Licence

MariBank Philippines traces its roots to the Rural Bank of Pagsanjan, founded in 1965, later renamed Banco Laguna. Sea Limited, the Singapore-based parent of Shopee, Garena, and Monee, first invested in the bank in 2020 and shifted its focus towards a more technology-driven model.

Sea rebranded the bank as SeaBank Philippines in December 2021.

In April 2025, MariBank Singapore, Sea’s digital bank in Singapore, acquired SeaBank Philippines, bringing it into the MariBank group.

Philippines central bank approved the corporate name change from SeaBank Philippines to MariBank Philippines that same month.

The SEC clearing the change in July 2025.

MariBank Philippines has posted two consecutive profitable years, with total assets reaching approximately US$1.16 billion by the end of 2025, up from roughly US$636.2 million in the first quarter of the year.

Featured image: Edited by Fintech News Philippines based on an image by kingofmockup via Magnific.