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# Grab to Consolidate Indonesia's Superbank Into Financial Services Segment After Singtel Stake Transfer
- URL: https://www.theglobalbanker.com/grab-consolidate-superbank-financial-services-singtel-transfer/
- Published: 2026-05-20T13:49:00.000Z
- Updated: 2026-10-01T23:46:30.000Z
- Description: Grab will fully consolidate Indonesian digital bank Superbank after Singtel Alpha Investments transfers its stake to GXS Bank, lifting Grab's shareholding above 50%.
- Author: TGB Editorial Team
- Tags: M&A, Asia-Pacific

Grab Holdings will consolidate Indonesian digital bank Superbank into its Financial Services segment after Singtel Alpha Investments transfers its stake in the bank to GXS Bank, the Singapore-based digital bank in which Grab is the majority shareholder. The move, announced on 20 May 2026, will lift Grab's combined direct and indirect shareholding in Superbank to over 50% once the transfer completes, which was expected in May 2026.

As a result, Superbank will become a Grab subsidiary and its financial results will be fully consolidated into the group's Financial Services segment with effect from May 2026\. Grab said Superbank's market capitalisation at the time of the announcement stood at approximately USD 1.6 billion.

#### SUPERBANK TO BECOME A GRAB SUBSIDIARY

Superbank is an Indonesian bank with digital services supported by Grab, Emtek, Singtel, KakaoBank and GXS Bank, and has been listed on the Indonesia Stock Exchange since December 2025\. Grab said Singtel remains committed as a strategic investor to support GXS Bank as well as Superbank.

Superbank has scaled rapidly since its app launch in June 2024\. The bank has more than 6 million customers, with daily transactions exceeding 1 million, according to Grab. It reported its first full-year profit in FY2025 and posted 72% year-on-year asset growth in April 2026 to IDR 24 trillion, equivalent to approximately USD 1.4 billion.

Grab said it would provide updated group financial guidance at its second-quarter 2026 results call in August 2026\. It described Indonesia, as South-East Asia's largest economy, as one of the most significant digital financial services opportunities in the world.

#### REGIONAL DIGITAL BANK ALIGNMENT

Grab said the transaction supports GXS Bank's strategic roadmap to scale across the region. GXS Bank operates in Singapore, GXBank in Malaysia and Superbank in Indonesia, and the group said the change is intended to deepen collaboration between the three institutions.

GXS Bank chief executive Pei-Si Lai said that with "the close collaboration of our three digital banks" the group would be able to "drive product innovation more effectively for our customers".

Alex Hungate, President and Chief Operating Officer of Grab, said the consolidation "is about deepening that model and extending its impact, reinforcing our long-term commitment to improve financial inclusion in Indonesia".

GXS Bank is owned by a consortium of Grab and Singtel.

Grab set out the transaction in a press release that was also filed with the US Securities and Exchange Commission.

As of April 2026, around 60% of Superbank customers had a Grab and/or OVO account, and the bank reported 84% year-on-year growth in net interest income that month, according to Grab.