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Grab’s Financial Services Arm Hits First Profitability Milestone

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Grab’s Financial Services Arm Hits First Profitability Milestone

Grab’s financial services segment reported positive adjusted EBITDA for the first time in the third quarter of 2026, reaching US$12 million compared with a US$28 million loss a year earlier.

According to Grab’s third-quarter results, financial services revenue rose 124% year-on-year to US$201 million, driven largely by lending across GrabFin and its digital banks.

Contributions from Indonesia’s Superbank and US investment platform Stash also supported growth.

The segment had reported a US$15 million adjusted EBITDA loss in the second quarter.

Total loans disbursed increased 115% year-on-year to US$1.9 billion during the quarter.

Grab’s gross loan portfolio reached US$2.7 billion at the end of September, up 200% from US$900 million a year earlier.

Part of the increase came from Superbank, which Grab began consolidating in June. Excluding Superbank, the loan portfolio grew 115% year-on-year.

Grab also began recognising revenue contributions from Stash, which it acquired in July.

Meanwhile, customer deposits across GXS Bank in Singapore, GXBank in Malaysia and Superbank in Indonesia reached US$2.7 billion.

As its lending portfolio expanded, Grab reported a non-performing loan ratio of 2.6%, based on loans overdue by at least 90 days.

Expected credit loss reserves stood at 6.5% of the gross loan portfolio, providing approximately 2.4 times coverage of non-performing loans.

At group level, operating cash flow reached US$55 million, improving by US$182 million year-on-year.

A US$404 million year-on-year increase in customer deposit inflows supported the improvement, partly offset by a US$294 million increase in loan disbursements.


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