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Financial services are Grab’s final hurdle in its push to profitability

Benjamin Cher

Benjamin Cher

Published Wed, Nov 15, 2023 · 05:00 AM
    • Grab’s push for profitability will require its financial services and digital banks, such as GXS Bank, to fire on all cylinders.
    • Grab’s push for profitability will require its financial services and digital banks, such as GXS Bank, to fire on all cylinders. PHOTO: BT FILE

    GRAB’S recent cost-cutting measures appear to have paid off.

    After slashing incentives and staff costs, the delivery and mobility platform posted its first positive adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) in the third quarter ended September.

    Its adjusted Ebitda hit US$29 million in Q3, beating analysts’ consensus of US$9.5 million.

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    Hock Lock SiewGrabGXS BankFinancial services

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