Grab Holdings Limited will consolidate Indonesia’s Superbank following a stake transfer from Singtel to GXS Bank that raises its combined direct and indirect holding in the digital lender to more than 50%, the company announced on Wednesday. GXS Bank is Grab’s digital banking subsidiary and joint venture with Singtel. The transaction, expected to complete in May 2026, will see Superbank become a subsidiary of Grab, with its financial results consolidated into the group’s financial services segment. Grab will provide updated financial guidance at its second quarter 2026 results call in August 2026. Grab said the move supports GXS Bank’s regional expansion strategy and would deepen coordination between Superbank and GXS operations in Singapore and Malaysia. Superbank, which launched its app in June 2024 and listed on the Indonesia Stock Exchange in December 2025, has more than six million customers and processes over one million transactions daily. About 60% of Superbank customers also hold a Grab and/or OVO account, reflecting its integration with Grab’s ride-hailing, food delivery and payments ecosystem. The bank reported its first full-year profit in FY2025. As of April 2026, assets rose 72% year-on-year to IDR 24 trillion ($1.4 billion), while net interest income increased 84% year-on-year. Superbank holds KBMI 2 status under Indonesia’s banking framework, which allows banks to expand lending and product offerings based on core capital levels. Grab chief operating officer Alex Hungate said the consolidation would strengthen the company’s ecosystem-driven financial services model. “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,” he said. Superbank president director Tigor M. Siahaan said closer integration with Grab would support product development and expand access to digital financial services. “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.” GXS Bank chief executive Pei-Si Lai said the transaction reflected deeper collaboration across the group’s digital banking operations in Southeast Asia. “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,” she said. Singtel will remain a strategic investor in both GXS Bank and Superbank following completion of the transfer.
