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, lifts Grab's combined direct and indirect shareholding in Superbank to over 50%.
As a result, Superbank becomes a Grab subsidiary and will be fully consolidated into the group's Financial Services segment. Grab said Superbank's market capitalisation at the time of the announcement stood at approximately USD 1.6 billion.
SUPERBANK BECOMES A GRAB SUBSIDIARY
The transaction reorganises the shareholder structure of Superbank, which has been operated as an Indonesian digital bank with backing from a group of investors including Singtel's Alpha Investments unit. By transferring that stake to GXS Bank, Singtel and Grab convert a shared exposure into a majority position controlled through the GXS platform.
Superbank has built up substantial operating scale since launch. 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.
For Grab, consolidating a business of that size directly into its Financial Services segment materially increases both the revenue base and the balance sheet exposure of that division. Digital banks with meaningful scale in Indonesia represent one of the largest opportunities in South-East Asian financial services, given the size and youth of the domestic customer base.
REGIONAL DIGITAL BANK ALIGNMENT
The consolidation also enables tighter coordination across Grab's regional digital-bank portfolio. 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.
Bringing the three banks under closer operational alignment offers the potential to share technology, product design and risk-management practices across markets. Digital banks that build a common platform across geographies can spread development costs while adapting products to local regulatory and customer requirements.
Superbank's operating momentum, expressed through customer numbers, transaction volumes and asset growth, gives Grab a base from which to pursue further expansion in Indonesia's financial services market. Full-year profitability in FY2025 is a particularly notable milestone, since many digital banks in the region are still in the loss-making phase of their development.
For Singtel, transferring its Superbank stake to GXS Bank aligns its Indonesian exposure with the Singapore-based digital bank in which it is a partner alongside Grab. The move consolidates decision-making authority within the GXS structure rather than dispersing it across multiple direct holdings.
Grab set out the transaction in materials issued through its investor relations channels. Consolidating Superbank into the Financial Services segment is expected to shift the composition of that division's revenue and asset base as the Indonesian bank's reported figures are incorporated in full, rather than accounted for through associate treatment.
With more than 6 million customers, daily transactions exceeding 1 million and 72% year-on-year asset growth in April 2026, Superbank enters the Grab group with meaningful operating scale and momentum in one of the most closely watched digital banking markets in South-East Asia.