Grab-Singtel will hunt for more digital bank licences in Asia, say analysts

WITH one digital bank licence already in the bag, the Grab-Singtel venture is expected to be in contention for more such licences across Asia under its regional expansion play, analysts say.

Singapore's largest telco, through its joint venture with Grab, on Thursday announced it has applied for a digital bank licence in Malaysia with a consortium of other investors.

Citing guidance provided by Bank Negara Malaysia (BNM), Z74 said the country's central bank will issue up to five digital bank licences by Q1 2022.