Financial services the next growth driver for Grab, Sea as loans surge in Q2
Grab’s loan portfolio jumps 197% year on year, while Sea’s Monee grew loans by 62.5% to hit US$11.1 billion
Financial services is emerging as a crucial growth driver for Southeast Asian tech giants Grab and Sea, as surging loan growth significantly boosts their earnings in the second quarter. Grab's gross loan portfolio increased by an astounding 197% year on year to reach US$2.3 billion in Q2, up from US$781 million. This growth can be attributed partly to the consolidation of Superbank within GrabFin, Grab's financial services arm. Despite Superbank's contribution, Grab's loan portfolio still doubled year on year.
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Also reported by 1 other outlet
- Grab, Sea see loan books surge in Q2 as financial services drive growth businesstimes.com.sg
