Grab's Financial Services segment, which spans payments, lending, insurance and wealth products and its digital banks in Singapore and Malaysia, recorded revenue of $253 million for the full year 2024, a 44% increase year-on-year driven primarily by lending activity.
The company's total loan portfolio outstanding reached $536 million by the end of 2024, representing 64% growth year-on-year. Loan disbursements in the fourth quarter alone totalled $639 million, 44% higher than the equivalent period a year earlier.
DEPOSITS REACH $1.2 BILLION ACROSS DIGITAL BANKS
Customer deposits across Grab's digital banking operations in Singapore and Malaysia reached $1.2 billion by the close of the fourth quarter of 2024.
At $1.2 billion, the deposit pool already exceeds the $536 million loan portfolio.
FREE CASH FLOW AND SEGMENT EBITDA
At group level, Grab reported positive adjusted free cash flow of $136 million for 2024, while the Financial Services segment's adjusted EBITDA loss narrowed 38% to $105 million.