Grab, Sea see loan books surge in Q2 as financial services drive growth
Grab’s loan portfolio jumps 197% year on year, while Sea’s Monee grew loans by 62.5% to hit US$11.1 billion
Grab's loan portfolio surged 197% year-on-year to reach US$2.3 billion in Q2, while Sea's Monee grew loans by 62.5% to hit US$11.1 billion. Financial services is becoming an increasingly vital growth driver for Southeast Asian tech giants Grab and Sea, with loan growth contributing more significantly to earnings in the second quarter.
Grab's gross loan portfolio, which includes the consolidation of Superbank within GrabFin, saw a significant increase from US$781 million to the current figure. However, even without Superbank's contribution, the gross loan portfolio still doubled year-on-year.
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- Financial services the next growth driver for Grab, Sea as loans surge in Q2 businesstimes.com.sg
