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wrote a post09/29/2022 11:17

Analysts upbeat on digital bank and advertising

$Grab Holdings(GRAB.US)$
The analysts see potential in Grab’s upcoming digital bank with Singtel, GXS Bank.
Analysts upbeat on digital bank and advertising
The way $CGS(06881.HK)$ ’s Ong and Tan see it, Grab can leverage its partners’ ecosystem in Singapore, Malaysia and Indonesia and potentially reach 120 million micro, small & medium enterprises (MSME) upon launch.

Additionally, it will enjoy benefits such as lower costs, compared to peers on distribution and customer acquisition, as well as better credit scoring models. “Rollout will be done prudently, with digital bank operation losses peaking in FY2023 ending December 2023 and breakeven achieved by FY2026,” note the CGS-CIMB analysts.

“On ads, Grab is working on unifying its merchant marketing offerings into a self-service platform, which is expected to help the segment scale faster,” they add.

$DBS Group Holdings(D05.SG)$ Research on the other hend expect that there could be some slowdown in the financial services segment as ebitda losses have been rising due to more intense competition.

Grab for the first time has guided an adjusted ebitda for digital banking in FY2026, although adjusted ebitda losses are expected to worsen in FY2023 with new launches in Singapore and Malaysia. Grab does not expect the overall fintech segment, excluding digital banking to break even in FY2026.
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