Grab to consolidate Superbank following stake transfer to GXS Bank

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Grab is set to consolidate Superbank into its financial services business, in a move that signals the superapp’s growing ambitions to deepen its fintech footprint in Indonesia and tighten integration across its digital ecosystem.

The consolidation follows the transfer of Singtel Alpha Investments’ stake in Superbank to GXS Bank, Grab’s digital banking joint venture with Singtel. Once completed, Grab’s combined direct and indirect ownership in Superbank will exceed 50%, allowing the Indonesian digital bank’s financial results to be folded into Grab’s Financial Services segment beginning May 2026.

Grab said Indonesia remains one of the region’s most significant digital financial services opportunities, citing the country’s scale, rapidly digitising consumers and the structural advantages created by the company’s mobility, delivery and payments ecosystem.

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Through its integration with Grab and OVO, Superbank gains access to a broad consumer base and a large pool of transactional data that can support customer acquisition and credit underwriting.

Superbank, which debuted on the Indonesia Stock Exchange in December 2025 under the ticker SUPA, has scaled rapidly since launching its app in June 2024. The bank now serves more than 6 million customers across Indonesia and processes over 1 million daily transactions.

Around 60% of Superbank customers are also users of Grab and/or OVO, underscoring the growing convergence between consumer platforms, payments and embedded banking services in Southeast Asia.

The company also reported its first full-year profit in FY2025. As of April 2026, Superbank recorded 72% year-on-year asset growth to IDR 24 trillion (US$1.4 billion) and 84% growth in net interest income.

Grab president and chief operating officer Alex Hungate said the consolidation reinforces the company’s long-term financial inclusion ambitions in Indonesia.

“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,” he said.

Superbank president director Tigor M. Siahaan added that the closer integration with Grab’s ecosystem could accelerate product development and customer reach.

“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,” he said.

Meanwhile, GXS Bank CEO Pei-Si Lai said the move reflects broader regional ambitions across Southeast Asia’s digital banking landscape.

“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,” she said.

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