Grab will consolidate Indonesian digital bank Superbank into its financial services segment following Singtel’s transfer of its Superbank stake to GXS Bank, a joint venture between Grab and Singtel, effective May 2026 [1, 2, 3, 4]. After the transfer, Grab’s combined ownership in Superbank will exceed 50%, making Superbank a subsidiary of Grab [1, 2, 3, 4].
Superbank completed its initial public offering (IPO) on the Indonesia Stock Exchange in December 2025 and currently has a market capitalization of about US$1.6 billion (around SGD 20.48 billion) [1, 2, 3, 4]. The bank launched its mobile app in 2024 and serves over six million customers across Indonesia, processing more than one million transactions daily [2, 3, 4].
In fiscal year 2025, Superbank posted its first full-year profit. As of April 2026, Superbank’s assets grew 72% year on year to 24 trillion rupiah (approximately SGD 1.7 billion), while its net interest income rose 84% year on year [2, 3, 4].
Other notable investors in Superbank include Emtek, Singtel, KakaoBank, and GXS Bank [1, 2, 3, 4]. Grab already holds a 90% stake in OVO, a leading digital wallet platform in Indonesia, and combines ride-hailing, delivery, and payments services to support Superbank's growth [2, 3, 4]. A Grab statement noted that “Grab and OVO’s scale across ride-hailing, food delivery and digital payments provides Superbank with a structural distribution advantage, while the depth of transactional data flowing through the Grab ecosystem enhances Superbank’s credit underwriting capabilities” [2].
Alex Hungate, President and COO of Grab, said, "This consolidation is about deepening that model and extending its impact, reinforcing our long-term commitment to improve financial inclusion in Indonesia" [4].
Superbank’s financial results will be fully consolidated into Grab’s financial services segment starting May 2026 [1, 2, 3, 4]. Grab plans to provide updated group financial guidance during its second-quarter 2026 results call scheduled for August 2026 [2, 3, 4].
