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Grab expands digital banking in Indonesia
29 May
Summary
- Grab will increase its Superbank ownership to over 50%.
- The consolidation is expected to complete by May 2026.
- Superbank is an Indonesian digital bank with a $1.6 billion market cap.
Grab Holdings Limited is consolidating its ownership in PT Super Bank Indonesia, with the transfer of shares from Singtel Alpha Investments Pte. Ltd. to Grab's digital banking subsidiary, GXS Bank Pte. Ltd. This transaction, anticipated to conclude by May 2026, will elevate Grab's direct and indirect stake in Superbank to above 50%.
Following the finalization of this deal, Superbank's financial results will be incorporated into Grab Holdings Limited's Financial Services segment. Superbank, an Indonesian digital bank supported by various entities including Grab and Singtel, has a market capitalization of approximately $1.6 billion and has been listed on the Indonesia Stock Exchange since December 2025.
Grab has been an investor in Superbank since 2022, recognizing Indonesia's substantial potential for digital financial services due to its large economy and rapidly digitizing consumer base. Grab operates a superapp across Southeast Asia, offering deliveries, mobility, and digital financial services in eight countries.
