Grab Holdings Limited announced it will consolidate PT Super Bank Indonesia Tbk after Singtel Alpha Investments Pte. Ltd.’s shareholding in Superbank is transferred to GXS Bank, Grab’s digital banking subsidiary and joint venture with Singtel (20/05).

Following completion of the transfer, Grab’s combined direct and indirect ownership in Superbank will rise to over 50%, making Superbank a subsidiary and bringing its financial results into Grab’s Financial Services segment.

Ownership Restructuring and Digital Bank Integration in Indonesia

The consolidation is expected to be completed in May 2026, after which Superbank’s financial results will be fully included in Grab’s reporting structure.

Superbank is listed on the Indonesia Stock Exchange and has a market capitalization of US$1.6 billion following its IPO in December 2025.

The IPO strengthened Superbank’s capital base and elevated it to KBMI 2 status, a classification by Indonesia’s financial regulator OJK, indicating core capital between IDR 6 trillion and IDR 14 trillion.

Superbank Financial Performance and Customer Growth

Superbank currently serves more than 6 million customers across Indonesia and processes over 1 million daily transactions.

As of April 2026, around 60% of its customers are linked to Grab and/or OVO accounts, reflecting ecosystem integration across platforms.

The bank recorded its first full-year profit in FY2025 and reported 72% year-on-year asset growth to IDR 24 trillion (US$1.4 billion) in April 2026.

Net interest income also rose 84% year-on-year during the same period.

Strategic Impact on Grab Financial Services Expansion

With consolidation, Superbank’s financial results will be incorporated into Grab’s Financial Services segment starting May 2026.

The move strengthens collaboration between Superbank and GXS Bank in Singapore and Malaysia, supporting regional scaling efforts.

Grab stated that its ecosystem, including ride-hailing, food delivery, and digital payments, provides distribution advantages and supports credit underwriting through transactional data.

Executive Statements on Consolidation and Ecosystem Strategy

Alex Hungate, President and Chief Operating Officer of Grab, stated: “I am proud of the profitable growth that Superbank has achieved over the past two years.” He added that the ecosystem strategy provides scalable distribution and improved credit underwriting capabilities.

Tigor M. Siahaan, President Director of Superbank, said the consolidation strengthens collaboration and supports faster innovation and expanded access to digital financial services.

Pei-Si Lai, Chief Executive Officer of GXS Bank, said the increased stake reflects deeper collaboration across digital banks aimed at improving financial accessibility in Southeast Asia.

PHOTO: GRAB/ANTARA

This article was created with AI assistance.

We make every effort to ensure the accuracy of our content, some information may be incorrect or outdated. Please let us know of any corrections at [email protected].