Superbank Discloses Strategic Partnership Risks Ahead of IPO

Dependence on Major Partners Creates Uncertainty

Superbank has highlighted significant risks associated with its heavy reliance on strategic partners, particularly Grab and OVO, as it prepares for its initial public offering (IPO). The digital bank emphasized that any corporate actions taken by these major stakeholders could create substantial uncertainty regarding its future business prospects and financial performance.

Key Risk Factors

1. Partnership Dynamics: Superbank's business model is heavily dependent on its collaboration with Grab and OVO, which play crucial roles in product distribution and business scaling. Any deterioration in these relationships could negatively impact the bank's operations and financial condition.
2. Potential Merger Implications: The planned merger between Grab and another company (reportedly PT GoTo Gojek Tokopedia Tbk.) introduces additional uncertainty. While the outcome remains uncertain, Superbank acknowledges that such a merger could potentially affect its business collaboration and overall strategy.
3. Financial Performance Risks: The bank faces challenges in executing its business strategy, entering new markets, and maintaining profitability. These factors are critical to its future performance and investor confidence.

Financial Highlights

Despite the risks, Superbank has reported significant improvements in its financial performance:

• Net Profit: Rp60.13 billion profit in 9M 2025, compared to a loss of Rp285.74 billion in the same period last year
• Interest Income: Rp1.49 trillion, up 229.24% from Rp455.02 billion in 9M 2024
• Net Interest Income: Rp1.1 trillion, growing 175.94% from Rp399.01 billion
• Loan Portfolio: Rp9.03 trillion, an 84.4% increase from Rp4.89 trillion in Q3 2024
• Total Assets: Rp16.54 trillion, up 70.17% from Rp9.71 trillion

Risk Management and Future Prospects

Superbank's management emphasizes that future performance will depend on successful portfolio growth and effective cost management. The bank's ability to navigate partnership risks while maintaining financial discipline will be crucial for its long-term success. The Capital Adequacy Ratio (CAR) stood at 65.91%, indicating a strong capital position despite the growth in operations.