GCash parent Mynt keeps IPO option open
MANILA, Philippines — Mynt, the parent company of GCash, remains open to a potential initial public offering (IPO). This, even as the fintech firm focuses on scaling its payments, lending and financial services businesses amid strong earnings growth.
Carlos Puno, chief financial officer of Globe Telecom Inc., said in a briefing on Monday that the company and its shareholders continue to consider “various capital solutions.” These include an IPO, but Puno said no timelines have been set yet.
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“In the meantime, the Mynt team is very focused and very committed to growing its business amid this evolving macro and regulatory condition,” Puno said.
He added that disclosures would be made in line with stock exchange rules once a definitive decision has been reached.
GCash is one of at least four companies projected to go public this year. It continues to wait on the upcoming changes to the rules on public float.
If it finally moves forward in 2026, the IPO would follow a strong financial year. In 2025, GCash saw expanding adoption of both its digital payments and credit products.
Mynt’s attributable equity earnings to Globe Telecom Inc. reached P6.1 billion last year, up 64 percent year-on-year. This accounted for about 22 percent of Globe’s pretax income.
‘Embedded in daily life’
“Our growth momentum continues as digital finance becomes more embedded in daily life,” said Martha Sazon, president and CEO of Mynt.
“We are doubling down on expanding financial access to the masses through everyday payments, fair lending, and inclusive wealth and insurance products,” Sazon said.
While payment remains a core growth driver, lending also registered robust growth.
Fuse Financing, the lending arm of Mynt, has disbursed P362 billion in loans to date. That is a 65-percent increase from 2024, driven by more than 10.5 million unique borrowers.
GCash also reported rising uptake in investments and insurance, with its GStocks PH platform serving 1.7 million registered users in 2025. Meanwhile, insurance policies sold through GInsure nearly tripled to 132.6 million.
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Analysts at First Metro Securities see Mynt as a key value driver for Globe.
The brokerage group estimates the GCash operator accounts for about 32 percent of Globe’s valuation.
It projects the telco firm’s revenues to reach P185.6 billion in 2026 and rising to P190.3 billion in 2027. First Metro Securities lists GCash among the group’s “top defensive picks.”
However, First Metro Securities also flagged regulatory risks for Mynt. These include the “larger than expected” impact on earnings from tighter online gambling rules. INQ
