Superbank's Path to IPO: From Persistent Losses to Profitability
Executive Summary
Key insights and market outlook
Superbank, formerly known as Bank Fama International, is preparing for an initial public offering (IPO) despite a history of significant losses. The digital bank has shown remarkable growth in recent years, with assets expanding 105% to Rp11.40 trillion in 2024. After consecutive losses, Superbank achieved profitability in Q1 2025, reporting a net profit of Rp251 million. The bank plans to raise up to Rp3.06 trillion through its IPO, scheduled for December 17, 2025, with 70% of funds allocated for working capital to support credit distribution.
Deep Dive Analysis
Superbank's Journey to IPO: From Losses to Profitability
Transformation and Financial Performance
Superbank, previously known as PT Bank Fama International, has undergone significant transformation since changing its name in February 2023. The digital bank has been preparing for an initial public offering (IPO) despite a history of substantial losses in previous years.
Financial Highlights
The bank's financial performance shows a mixed picture:
- Net losses: Rp385.10 billion in 2023, reduced to Rp366.37 billion in 2024
- Interest income: Increased by 130.2% to Rp743.98 billion in 2024
- Asset growth: Total assets expanded by 105% to Rp11.40 trillion in 2024
- Profitability achieved: First net profit of Rp251 million in Q1 2025
Business Expansion and Growth Strategies
Superbank's growth strategy has focused on:
- Digital customer acquisition
- Operational efficiency improvements
- Prudent credit distribution
- Innovative financial products such as Saku by Superbank and Celengan by Superbank
Key Performance Indicators
- Credit distribution grew by 144.53% YoY to Rp7.6 trillion by March 2025
- Total assets reached Rp14.04 trillion, a 125% increase
- Net interest income grew by 135.9% YoY to Rp264.06 billion in Q1 2025
- Continued profitability in subsequent quarters: Rp20.1 billion in H1 2025 and Rp60.12 billion in Q3 2025
IPO Plans and Fund Utilization
Superbank is preparing for its IPO on December 17, 2025, with stock code SUPA. The offering details include:
- Maximum 4.40 billion new shares to be issued
- Price range: Rp525 to Rp695 per share
- Fundraising target: Up to Rp3.06 trillion
- Fund allocation: 70% for working capital to support credit distribution
- Remaining 30% for capital expenditure, including technology development
Investor Perspective
The IPO presents an interesting opportunity for investors considering Superbank's:
- Rapid growth trajectory
- Strategic backing from investors like Emtek Group, Grab, and KakaoBank
- Digital banking innovation
- Recent achievement of profitability
The upcoming IPO will be a significant milestone for Indonesia's digital banking sector, demonstrating the market's confidence in Superbank's business model and growth potential.
Source References
Story Info
Topics Covered
Key Events
IPO Preparation
Achievement of Profitability
Significant Asset Growth