Indonesia – Grab Holdings Limited has announced that it will consolidate PT Super Bank Indonesia Tbk (Superbank) into its financial results after Singtel Alpha Investments Pte. Ltd transfers its shareholding in the Indonesian bank to GXS Bank Pte. Ltd., Grab’s digital banking subsidiary and joint venture with Singtel.
Superbank is an Indonesian digital bank supported by Grab, Emtek, Singtel, KakaoBank and GXS Bank and has been listed on the Indonesia Stock Exchange since December 2025 with a market capitalisation of US$1.6 billion.
Its IPO strengthened its capital base and elevated it to KBMI 2 status, a classification by Indonesia’s Financial Services Authority (OJK) for banks with core capital between IDR 6 trillion (US$340 million) and IDR 14 trillion (US$793 million), indicating a stronger capital position and expanded lending capacity.
Tigor M. Siahaan, President Director of Superbank, said, “We welcome this consolidation as a step towards further strengthening collaboration within our ecosystem. With increasingly integrated support from Grab, we are optimistic that we can accelerate product innovation, expand access to digital financial services, and deliver an even more seamless, secure, and relevant banking experience for millions of customers across Indonesia.”
Upon completion of the transfer, Grab’s combined direct and indirect stake in Superbank will rise to more than 50%, giving it control of the Indonesian lender and triggering full consolidation of Superbank’s financial results into Grab’s Financial Services segment.
Singtel will remain a strategic investor in both GXS Bank and Superbank, continuing its support for their digital banking and financial inclusion initiatives in Indonesia.
Grab has held a stake in Superbank since 2022 as part of its broader push into digital financial services in Southeast Asia’s largest economy. Its ecosystem across ride-hailing, food delivery and digital payments through Grab and OVO provides Superbank with distribution reach, while platform data supports credit underwriting.
The transaction also aligns with GXS Bank’s regional expansion strategy, strengthening collaboration between Superbank and its operations in Singapore and Malaysia.
Since launching its app in June 2024, Superbank has grown to more than 6 million customers and processes over 1 million transactions daily, with around 60% of users also holding a Grab and/or OVO account as of April 2026.
The bank reported its first full-year profit in FY2025, alongside 72% year-on-year asset growth to IDR 24 trillion (US$1.4 billion) and 84% growth in net interest income as of April 2026.
The consolidation will take effect in May 2026, after which Superbank’s results will be fully reflected in Grab’s financial statements under its Financial Services segment. Grab is expected to provide updated group guidance in its second-quarter 2026 results in August.
Alex Hungate, President and Chief Operating Officer of Grab, said, “I am proud of the profitable growth that Superbank has achieved over the past two years. The ecosystem strategy gives Superbank two structural advantages: a scalable, lower-cost distribution channel through Grab and OVO’s platforms and enhanced credit underwriting powered by Grab’s transaction data. This consolidation is about deepening that model and extending its impact, reinforcing our long-term commitment to improve financial inclusion in Indonesia.”
Pei-Si Lai, Chief Executive Officer of GXS Bank, added, “Our digital banks share the same fundamental mission of making financial services more accessible to Southeast Asians. Increasing our stake in Superbank is a reflection of the deepening collaboration between GXS Bank Group and Superbank to achieve this goal. With the close collaboration of our three digital banks and the extensive support from our ecosystem of shareholders and partners, we will be able to double down on our efforts and drive product innovation more effectively for our customers.”
