Superbank Optimistic to Tap Digital Bank Market After Listing on BEI

JAKARTA - PT Super Bank Indonesia Tbk (SUPA) officially listed on the Indonesia Stock Exchange (IDX) on Wednesday, December 17.

In this initial public offering (IPO), Superbank set the share price at IDR 635 per share by releasing 4.4 billion new shares, equivalent to 13 percent of the paid-up capital and fully paid after the IPO. From the corporate action, the company managed to raise fresh funds worth IDR 2.79 trillion.

The proceeds from the IPO will be used to accelerate business expansion and strengthen Superbank's ability as a digital service-based bank.

Based on the prospectus, around 70 percent of the funds will be allocated as working capital to increase the distribution of credit to the underbanked segment, both retail and SMEs, which is the main focus of the company's growth.

Meanwhile, around 30 percent of the IPO funds will be used for capital expenditures, including the development of funding and financing products, digital payment systems, information technology infrastructure, operational system strengthening, as well as long-term investments in artificial intelligence (AI), data analytics, and cybersecurity.

President Director of Superbank Tigor M. Siahaan said that the listing of this stock is an important milestone in efforts to strengthen the capital structure while expanding the reach of digital financial services for the Indonesian people, and this IPO marks a new phase in Superbank's Journey of Trust.

a explained that the journey began with the trust of the Financial Services Authority (OJK) which granted permission to transform Superbank into a bank with digital services focused on the underbanked segment.

According to him, this trust was then strengthened by the support of shareholders and millions of customers who have used the company's services.

"As a public company, we are committed to continuing to maintain and grow this trust, as well as expanding access to financial services for more Indonesian people, Superbank For All," he said in a press conference on Wednesday, December 17.

Tigor assessed that the potential for digital bank growth in Indonesia is still very large, given that the overall market share of digital banking is still relatively small compared to the national banking industry.

He estimated that the total market share of digital banks in Indonesia is currently still in the range of 1 percent.

In facing competition, Tigor said Superbank relies on an ecosystem-based strategy as a key advantage, one of which is through Grab's ecosystem support.

According to him, with tens of millions of users from transportation, delivery, and OVO services, Superbank positions itself as a partner that is closely integrated into the ecosystem.

"So we feel that this ecosystem approach will be a big differentiator in the future," he said.

Since the beginning of its transformation, Tigor explained that Superbank has adopted a digital-first business model by utilizing the Grab and OVO ecosystems to reach the public directly through platforms that have been used and trusted.

He added that this strategy will begin to be implemented in 2024, when Superbank becomes the first digital bank in Indonesia that allows Grab users and partners to open accounts, save, and use the account as a direct payment method in the Grab application without having to download additional applications.

He added that the strategy was continued this year through the launch of various innovations, including OVO Nabung by Superbank, an ecosystem-based savings product that allows OVO users to save instantly with interest of up to 5 percent per year, as well as the Untung Card, a gamification-based savings product resulting from collaboration with KakaoBank.

Tigor said that the implementation of this ecosystem strategy has proven to deliver tangible results, both in building credibility, accelerating adoption, and simplifying the banking experience in users' daily activities.

Since the launch of the digital application in June 2024, Superbank has served more than 5 million customers with an increasing level of engagement.

"This momentum is reflected in the average growth in the number of daily transactions which increased by more than 40 percent in the third quarter of 2025 compared to the previous period, with more than 1 million transactions processed every day," he explained.

Looking ahead, Tigor said Superbank will continue to strengthen the synergy of the Grab-OVO and Emtek digital ecosystems, as well as the support of other strategic shareholders, including Singtel, KakaoBank, and GXS.

"This combination of technology capabilities, ecosystem reach, and regional banking experience further strengthens Superbank's position in providing more inclusive, relevant, and sustainable financial services to the Indonesian people," he said.

Similarly, Grab Indonesia CEO Neneng Goenadi said his party welcomed the initial listing of Superbank shares on the Indonesia Stock Exchange as an important milestone in a joint effort to expand access to safe, inclusive, and affordable financial services for millions of users, driver partners, and MSMEs in Indonesia.

"With the integrated digital banking capabilities of Superbank in the Grab and OVO applications, we see an increasing opportunity to responsibly utilize technology and data to provide relevant savings and financing solutions for the underbanked segment, while strengthening Indonesia's digital economic growth in the long term," he explained.

He added that Grab will continue to support Superbank in maximizing the strength of our ecosystem to drive innovation and sustainable growth.

Meanwhile, the listing of Superbank shares adds to the list of issuers in the digital financial sector on the IDX and reflects the high market interest in the ecosystem-based banking model, which is considered to have long-term growth prospects, although it still faces challenges in asset quality and achieving profitability.

For information, on the first day of trading, SUPA shares opened at Rp790 or jumped 24.41 percent from the IPO price of Rp635, and immediately hit the upper auto reject limit (ARA).

On the same occasion, BEI Director Kristian Manullang, said that Superbank became the 26th company to list on the BEI throughout 2025, and is the 956th issuer since the Indonesia Stock Exchange was established.

"Today's achievement is the result of the hard work of all management and employees of the Company to strengthen capital, expand financing capacity, and increase the Company's role in supporting the growth of the real sector and national financial inclusion," he said.