Grab to Acquire 2.44 Billion Superbank Shares through GXS Bank

• Grab acquired Singtel's 2.44 billion SUPA shares worth Rp800.4 billion.

• Grab deepens regional coordination between Superbank and GXS Bank operations.

By Emirsyah Kevin Mecca, Attala Sabian Andhika, Maria Ella Risandra Puruhita, Nashwah Putri Az-Zahra

June 5 2026, at 16:30 GMT+7

Grab Holdings Limited declared that it will merge PT Super Bank Indonesia Tbk (SUPA) after the transfer of Singtel Alpha Investments' stake in Superbank to GXS Bank, which is Grab's digital banking arm and joint venture with Singtel.

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Singtel sold around 2.44 billion ordinary shares priced at Rp327 each, resulting in a total liquidation value of Rp800.4 billion, which reflects a stake of about 7.3%. Consequently, Grab’s total direct and indirect ownership in Superbank surpassed 50%, necessitating the complete integration of Superbank’s financial outcomes into Grab’s Financial Services sector.

This action officially establishes Superbank as a subsidiary within Grab's growing regional digital banking network.

Grab Logo | Source: Gizmologi.id

Superbank was listed on the Indonesia Stock Exchange in December 2025 under the ticker SUPA. Since its app launch in June 2024, Superbank has scaled rapidly, accumulating over 6 million customers and processing more than 1 million transactions daily. 

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The bank's financial trajectory further validates the strategic logic of Grab's consolidation move. As of April 2026, Superbank recorded 72% YoYr asset growth to Rp24 trillion and 84% growth in net interest income, alongside reporting its first full-year profit in fiscal year 2025.

Notably, around 60% of Superbank's customers are also users of Grab and OVO, emphasizing strong ecosystem synergies. This move positions Grab and Superbank for accelerated, market-leading expansion rather than a mere opportunistic deal.

Superbank | Source: IDNFinancial

Grab stated that the merger of Superbank reflects Grab's broader regional digital banking strategy, as the move is designed to support GXS Bank's regional expansion and deepen operational coordination between Superbank and GXS Bank's existing presence in Singapore and Malaysia.

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Reinforcing this vision, Grab President and COO Alex Hungate stated that increasing the stake in Superbank reflects a deepening collaboration within the GXS Bank Group, aimed at driving product innovation and making financial services more accessible across Southeast Asia. 

The acquisition reflects a broader restructuring of Grab and Singtel's digital banking ambitions across Southeast Asia, with both firms already partnered in GXS Bank in Singapore and GXBank in Malaysia, forming a multi-market digital banking network.

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Sources:

IDNFinancial

Investing.com