Singapore – Grab has announced that it will consolidate Indonesian digital bank Superbank into its financial reporting structure following the transfer of Singtel Alpha Investments’ stake in the bank to GXS Bank, Grab’s digital banking subsidiary and joint venture with Singtel.
The transfer, which is expected to be completed in May 2026, will increase Grab’s combined direct and indirect ownership in Superbank to more than 50%, making the Indonesian lender a subsidiary of Grab. As a result, Superbank’s financial performance will be consolidated into Grab’s Financial Services segment.
Superbank, which is listed on the Indonesia Stock Exchange since December 2025, has a market capitalisation of approximately US$1.6 billion. The bank is backed by investors including Grab, Emtek, Singtel, KakaoBank and GXS Bank.
Following its IPO, Superbank achieved KBMI 2 status under Indonesia’s financial regulator, the OJK. The classification applies to banks with core capital between IDR 6 trillion and IDR 14 trillion, enabling them to expand lending and product offerings.
Grab said the move reflects its long-term focus on Indonesia’s digital financial services sector, citing the country’s large and increasingly digital consumer base. The company added that its ecosystem across ride-hailing, food delivery and digital payments, alongside OVO’s user network, provides Superbank with broader distribution and access to transaction data that supports credit underwriting.
The transaction is also intended to support GXS Bank’s regional expansion strategy and strengthen collaboration between Superbank and GXS Bank’s operations in Singapore and Malaysia.
Since launching its app in June 2024, Superbank said it has grown to serve more than 6 million customers in Indonesia, processing over 1 million daily transactions. As of April 2026, approximately 60% of Superbank customers also held a Grab and/or OVO account.
The bank reported its first full-year profit in FY2025. It also recorded 72% year-on-year asset growth to IDR 24 trillion and 84% year-on-year growth in net interest income as of April 2026.
Grab said it will provide updated group financial guidance during its second-quarter 2026 earnings call in August 2026.
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.”
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.”
Pei-Si Lai, Chief Executive Officer of GXS Bank, said, “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.”
