Singapore, May 22, 2026, 06:07 SGT
- Grab shares traded on Nasdaq added 1.6% to $3.56 as the company took steps to consolidate the Indonesian digital lender Superbank.
- Grab’s direct and indirect stake in Superbank will climb above 50% after the deal, so Grab will bring the lender’s results into its financial-services segment.
- Grab is looking for more ways to make money outside of rides and food delivery. But higher fuel costs and incentives are still a margin risk.
Grab Holdings shares traded higher Thursday as the Singapore super app said it will consolidate Superbank in Indonesia. The move lets investors see more of Grab’s digital finance business in Southeast Asia’s biggest market.
The stock last changed hands at $3.56, up roughly 1.6% on the day. Shares moved between $3.45 and $3.575 during the session. About 36.3 million shares traded. Market cap was close to $14.1 billion.
Grab puts weight on the move as it works to prove financial services can drive earnings, instead of just sitting alongside its ride-hailing and food delivery businesses. Grab said May 20 that once Singtel shifts its Superbank stake to GXS Bank, their joint digital bank, Grab’s combined holding in Superbank will go above 50%.
Superbank’s financials will roll into Grab’s financial-services business starting May 2026. With consolidation, Grab puts Superbank’s revenue, costs, and balance sheet right into its own numbers, instead of listing the stake as just an investment.
Superbank expands Grab’s presence in Indonesia, an arena where it already faces GoTo in ride-hailing, delivery and payments. According to The Business Times, Superbank claims more than six million customers, handles over one million transactions each day, and posted assets of 24 trillion rupiah (S$1.7 billion) in April, a 72% increase from last year.
Grab’s president and COO Alex Hungate said the consolidation is about “reinforcing our long-term commitment to improve financial inclusion in Indonesia.” Grab said the plan should also bring Superbank closer to its business in Singapore and Malaysia. The Business Times
Grab is getting some help from timing. Revenue for the first quarter rose 24% to $955 million. On-demand gross merchandise value, or total transactions before fees and incentives, also climbed 24% to $6.1 billion. Adjusted EBITDA increased 46% to $154 million. Adjusted EBITDA cuts out interest, tax, depreciation, amortisation and a few other line items.
Grab CEO Anthony Tan said the first quarter is typically its slowest, but on-demand GMV grew faster anyway. CFO Peter Oey said the results keep Grab on track for its 2026 revenue outlook of $4.04 billion to $4.10 billion and adjusted EBITDA of $700 million to $720 million.
Stocks finished up Thursday. The Nasdaq Composite added 0.1%, the S&P 500 gained 0.2% and the Dow Jones Industrial Average rose 0.6%. Falling oil prices cut some pressure in the bond market.
Grab is still up against heavy competition. Indonesian player GoTo posted its first quarterly profit in April, with net revenue up 26% from a year earlier, Reuters reported. Delivery Hero’s foodpanda also remains in the mix. Grab said in March it plans to buy foodpanda’s Taiwan operations for $600 million, with the deal expected to wrap up in the second half of 2026, pending regulatory sign-off.
But Grab has pointed to risks with the Superbank push, saying it needs to pull together and run the new bank, grow, stay competitive in fast-moving markets, and handle rules and macro pressures. SEC Management also said higher fuel costs have led it to help driver partners, with Hungate telling analysts that fuel is still “an important variable” Grab is watching. The Motley Fool
Grab’s stock is up as investors seem to like the new banking move in Indonesia. The company will update guidance at its Q2 results call in August.
