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
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[SINGAPORE] Financial services is emerging as an increasingly important growth engine for South-east Asia tech giants Grab and Sea, with surging loan growth driving a bigger contribution to earnings in the second quarter.
Grab’s gross loan portfolio jumped 197 per cent year on year to US$2.3 billion in Q2 from US$781 million.
Part of this growth was due to the consolidation of Superbank within GrabFin, Grab’s financial services arm. However, without Superbank’s contribution, the gross loan portfolio still doubled year on year.
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