PLDT (PHI) is looking to increase its minority stake in its Maya Innovations fintech affiliate by potentially acquiring US private-equity firm KKR's (KKR) stake, Bloomberg reported Thursday, citing PLDT Chairman and Chief Executive Manuel Pangilinan.

Maya, led by its digital banking operations in the Philippines, booked a profit during December, PLDT said as it reported its Q4 financial results Thursday. Maya now has more than 5.4 million individual bank customers, growing 71% year-over-year, while its lending business nearly doubled to reach 1.6 borrowers by the end of 2024.

PLDT would be "a buyer of whatever [portion of Maya] might be available," the report said, quoting Pangilinan.

PLDT founded Maya as Voyager Innovations in 2013 and owns roughly 37% of its shares, according to PLDT's most recent annual report. Through a holding company, KKR first bought into Maya in 2018 and now holds about 30% of the firm after participating in an $80 million funding round in December 2023, which also attracted Tencent, SIG Venture Capital and First Pacific.

PLDT and KKR did not immediately respond to messages from MT Newswires seeking comment on Thursday.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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