Mynt Inc., the parent company of e-wallet giant GCash, reported a 17.4% year-on-year increase in net income, reaching ₱16.5 billion for the first nine months of 2026.
The strong financial performance was propelled by record-breaking results in the third quarter.
Regulator disclosures on Tuesday, November 10, showed that earnings growth accelerated significantly from the 7.3% year-on-year expansion recorded in the first half of the year. Third-quarter net income surged by 43% to ₱5.63 billion, up from ₱3.93 billion in the same period last year, driven by sustained user adoption and heightened engagement.
Total revenues for the first nine months climbed 12.2% year-on-year to ₱67.1 billion, outpacing the 9.8% growth rate posted in the first half. Third-quarter revenues likewise rose 16.6% to ₱24 billion, bolstered by robust user acquisition, deeper payment penetration, and expanding lending operations despite prevailing market headwinds.
Reflecting on the company’s trajectory, Mynt Chief Financial Officer (CFO) Evelyn Ng attributed their success to financial inclusion.
“We believe the success of our business is rooted in our vision of Finance for All. From the onset, we set out to solve everyday pain points that Filipinos experience—from streamlining payment transactions to providing access to fair lending,” Ng said.
She added, “The same vision has proven that there is good business in doing good. We see it not just in the everyday lives of Filipinos, but also in our strong revenue trajectory with sustainable profitability.”
Ng also noted that ample room for expansion remains across both core segments, adding, “Now that we are listed on the Philippine Stock Exchange (PSE), we’re excited to share our growth with all Filipinos.”
Operational metrics demonstrated broad-based expansion across Mynt’s ecosystem:
- User Base: Monthly active users reached 42.1 million in the third quarter, marking a 9.7% annual increase.
- Daily Transactions: Average daily transactions on the GCash app hit 64.4 million in the first nine months, up 16% year-on-year.
- Payment Solutions: Gross transaction value for payments climbed 23.1% to ₱15.1 trillion.
- CreditTech: Active borrowers grew to 7.8 million by September 30, with total loans expanding 43.3% to ₱79.3 billion while maintaining a stable non-performing loan (NPL) ratio of 4.8%.
The latest financial update follows Mynt’s landmark market debut, which marked the largest initial public offering (IPO) in Philippine history and Southeast Asia since 2021.
The historic offering raised up to ₱60.9 billion, supported by over 20 global and domestic cornerstone investors, catapulting Mynt to the seventh-largest Philippine-listed company by market capitalization.