Tonik posts 38% rise in customer deposits but losses widen to $33.4m in 2022

Tonik Financial, the parent company of the Philippines’ first neobank Tonik Digital Bank, posted significant growth in customer deposits in 2022, which reached $147 million, up 38% from a year earlier, but its losses year-on-year deepened 28% to $33.45 million, show regulatory filings.