GCash doubles Globe profit share to P1.9 billion

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May 15, 2026 | 12:00am

MANILA, Philippines —  E-wallet giant GCash has doubled its profit contribution to P1.9 billion to its telco investor Globe Telecom Inc. to underscore its financial viability before going public.

GCash’s parent Globe Fintech Innovations Inc. (Mynt) yesterday said it has remitted P1.9 billion to Globe in the first quarter, up by 120 percent compared to a quarter ago.

Mynt president and CEO Martha Sazon said the GCash is showing it is no longer just a player in the e-wallet space, but a driver of the digital economy as well.

Still, Globe chief finance officer Juan Carlo Puno said GCash has no timeline yet as to when it is filing an initial public offering (IPO). Right now, GCash is focused on product expansion to stay ahead of the curve as digital finance evolves.

Puno said GCash is open to any form of capital solutions, including an IPO. However, it remains undecided on the trajectory of its plan to go public, especially as capital markets face a new wave of economic risks driven by oil price shocks.

In spite of this, Puno said GCash has what it takes to list successfully, as the e-wallet is showing profit potential even today that it is still a private entity.

For Globe, GCash is providing it with financial cover in a challenging environment, with the first quarter remittance making up 30 percent of the telco’s pre-tax profit.

Business-wide, GCash has extended more than P406 billion in loans as of March, benefitting at least 11.1 million borrowers previously unserved by formal lending.

Based on data from the Philippine Payments Management Inc., GCash remains to be the leading destination of InstaPay transactions. The e-wallet has also increased its transaction volume since its tap-to-pay feature was introduced on railways in 2025.

Further, GCash is bridging the wealth gap by penetrating the unbanked segments of the economy. To date, the e-wallet’s user base is made up 90 percent from low-income Filipinos and 80 percent from outside of Metro Manila.

Across wealth management, GCash increased its customer volume to 1.9 million on GStocks and five million on GCrypto, and the app sold over 192.4 million policies on GInsure.

“The quarterly growth reflects GCash’s success in scaling high-impact services like lending and wealth management while staying true to its mission of financial inclusion,” Sazon said.