Globe Sees Boost in Equity Earnings as GCash Achieves Milestones in 2024

MANILA, Philippines – Globe Telecom reported its financial and operational results for 2024, highlighting a significant 65% year-on-year (YoY) increase in equity earnings, despite a 47% decline in non-telecom revenues.

GCash, Globe’s flagship financial platform, remained at the forefront of the Philippines’ digital finance landscape. With over 6 million online and offline merchant partners and more than 1,000 merchant options available via GLife, GCash continues to lead as the nation’s largest digital cashless ecosystem.

GCash has been instrumental in promoting financial inclusion across the country. In 2024, it was included in Fortune’s inaugural Fintech Innovators Asia list, recognizing its role in advancing innovative, accessible financial solutions.

The platform also bagged accolades from the Asia-Pacific Stevie Awards for its customer service technology and digital transformation efforts. Frost & Sullivan named GCash the “Company of the Year” in the Philippine financial technology sector.

Martha Sazon, CEO of GCash, emphasized the company’s commitment to inclusive growth, stating: “Our milestones reflect our unwavering dedication to empowering Filipinos through groundbreaking financial solutions that meet the needs of all.”

GCash has extended credit access to over 7.8 million borrowers, 66% of whom are women, and a majority from lower socio-economic groups. Through its lending products such as GCredit, GLoan, GGives (BNPL), and microloans, the platform is making credit more accessible to Filipinos.

Additionally, GCash has expanded globally with GCash Global Pay, enabling secure transactions in 51 countries, and GCash Overseas, which allows Filipinos abroad to manage their finances through the app.

GCash’s sustainability initiative, GForest, has seen users plant over 3.9 million trees, reducing 163,000 tonnes of carbon dioxide emissions. This highlights GCash’s role in fostering environmental responsibility alongside financial innovation.

Globe also showcased the achievements of its corporate venture builder, 917Ventures. Notable developments include Brave Connective Holdings, Inc., which combines data, analytics, and creative advertising through subsidiaries such as AdSpark, iNQUiRO, and M360. These entities empower businesses to make smarter decisions and improve customer engagement.