PT Super Bank Indonesia (Superbank) has commented on the discussion surrounding its potential initial public offering (IPO).

President Director Tigor M. Siahaan stated that the company is currently focusing on business development.

Superbank, launched at the end of 2023, is still in its early stages.

"We’re focused on how we develop Superbank, how we develop our products, serve customers, and build the ecosystem with Grab, and so on. That’s our core focus now," Tigor said during the Indonesia Re International Conference 2025 at Menara Danareksa on Tuesday, July 22.

Tigor emphasized the importance of synergy with Grab, one of Superbank’s shareholders, as part of its ongoing strategy.

He reiterated that the integration with the Grab ecosystem is a key part of the bank’s development priorities at this stage.

Superbank has recorded its first profitable quarter. In Q1 2025, the bank posted a net profit of IDR 251 million.

This result marks a reversal from the net loss of IDR 105.06 billion reported in Q1 2024.

Earlier this year, reports suggested that Superbank, owned by PT Elang Mahkota Teknologi Tbk. (EMTK), was considering a public offering on the Indonesia Stock Exchange (IDX) in 2025.

The IPO was reportedly targeting a valuation between US$200 million and US$300 million, or around IDR 3.23 trillion to IDR 4.85 trillion.

SOURCE: | PHOTO: ANTARA/RIZKA KHAERUNNISA

This article was created with AI assistance.