Superbank IPO marks new phase for Indonesia’s digital banking and inclusion

PT Super Bank Indonesia Tbk, a digital bank supported by Grab, Emtek, Singtel, KakaoBank dan GXS, today officially listed its shares on the Indonesia Stock Exchange (IDX).

This milestone marks an important moment for Superbank as it strengthens its capital base and expands the reach of its digital financial services across Indonesia.

Superbank set its initial public offering (IPO) price at IDR 635 ($0.038) per share, issuing 4.4 billion new shares, equivalent to 13% of its issued and paid-up capital post-IPO. Through this corporate action, the company successfully raised IDR 2.79 trillion ($167 million), which will be used to support business expansion and enhance Superbank’s digital banking capabilities.

In line with the prospectus, around 70% of the IPO proceeds will be allocated as working capital, primarily to strengthen lending to underbanked segments, including retail and MSMEs—areas that represent Superbank’s key growth focus. The remaining 30% will be allocated for capital expenditure, including the development of funding and lending products, digital payment systems, information technology infrastructure, operational system enhancements, and long-term investments in AI, data analytics, and cybersecurity.

“Today’s listing marks an important milestone in Superbank’s journey of trust. It began with the trust granted by OJK to transform into a bank with digital services with a clear mission to serve the underbanked, strengthened by the belief of our shareholders, and reinforced by the confidence of millions of customers. As a public company, we are committed to continuing to earn and protect this trust while expanding access to financial services for more Indonesians, Superbank For All.” said Tigor M. Siahaan, president director of Superbank.

Ecosystem-led growth and product innovation

Since the start of its transformation into a digital bank, Superbank has focused on the strength of a digital-first business model that leverages the Grab and OVO digital ecosystems to reach millions of Indonesians by being present on platforms they already use and trust. It began in 2024, when Superbank became the first bank with digital services in Indonesia to enable millions of Grab users and partners to open accounts, save, and use those accounts as a direct payment method within the Grab app, without the need to download an additional banking application. This approach was further strengthened in 2025 through ecosystem-based savings innovations, OVO Nabung by Superbank, a rek-wallet (e-wallet account) product that allows millions of OVO users to save instantly and securely directly from their OVO app with 5% annual interest, as well as Kartu Untung, a gamified savings product developed in collaboration with KakaoBank.

The execution of this ecosystem-based strategy has proven successful and delivered tangible impact. Superbank has been able to build credibility, accelerate adoption, and simplify everyday banking experiences for users. Since the launch of its digital application in June 2024, Superbank has served more than five million customers, with engagement continuing to grow. This momentum is reflected in an increase of more than 40% in average daily transaction volumes in the third quarter of 2025 compared to the previous period, with more than one million transactions processed daily.

Looking ahead, Superbank will further strengthen the Grab–OVO and Emtek digital ecosystem synergies in Indonesia, supported by its other strategic shareholders, namely Singtel, KakaoBank and GXS. The combination of technological capabilities, ecosystem reach and regional banking expertise further reinforces Superbank’s position in delivering financial services that are more inclusive, relevant and sustainable for communities across Indonesia.

Re-disseminated by Wealth and Society