Grab Holdings (GRAB) saw its U.S.-listed shares rise 1.6% to $3.56 on Thursday, as the company announced the consolidation of Superbank, an Indonesian digital lender. The move, which increases Grab's direct and indirect stake in Superbank to above 50%, will integrate Superbank's financial results into Grab's financial-services segment starting May 2026.
Superbank, which claims over six million customers and assets of 24 trillion rupiah (approximately $1.7 billion) as of April, has been a key part of Grab's strategy to expand beyond its core ride-hailing and food delivery businesses. The consolidation allows Grab to include Superbank's revenue, costs, and balance sheet directly into its own financial statements, rather than treating the stake as a mere investment.
Grab's President and COO, Alex Hungate, emphasized that the consolidation underscores the company's commitment to improving financial inclusion in Indonesia. The move is expected to bring Superbank closer to Grab's operations in Singapore and Malaysia, strengthening its regional fintech footprint.
The stock traded between $3.45 and $3.575 during the session, with approximately 36.3 million shares changing hands. Grab's market capitalization stood at nearly $14.1 billion on Thursday.
Grab's first-quarter results, released earlier, showed revenue rising 24% to $955 million, while on-demand gross merchandise value (GMV) grew 24% to $6.1 billion. Adjusted EBITDA increased 46% to $154 million. CEO Anthony Tan noted that the first quarter is typically the slowest, but GMV growth still exceeded expectations. CFO Peter Oey reiterated the company's full-year 2026 revenue outlook of $4.04 billion to $4.10 billion and adjusted EBITDA guidance of $700 million to $720 million.
Despite the positive news, Grab faces ongoing challenges. Higher fuel costs and driver incentives continue to pressure margins, with Hungate noting that fuel remains an important variable the company is monitoring. Competition in Indonesia also remains fierce, with rival GoTo posting its first quarterly profit in April and Delivery Hero's foodpanda maintaining a presence. Grab's planned $600 million acquisition of foodpanda's Taiwan operations, expected to close in the second half of 2026, faces regulatory approvals.
The broader market finished higher on Thursday, with the Nasdaq Composite up 0.1%, the S&P 500 gaining 0.2%, and the Dow Jones Industrial Average rising 0.6%. Falling oil prices helped ease pressure on bonds.
Investors appear to view the Superbank consolidation as a positive step toward demonstrating that financial services can drive earnings growth. Grab will provide updated guidance during its second-quarter results call in August.
