Grab Holdings Limited (Grab) announced its unaudited financial results for Q4 2025 and shared that it delivered its first full year of net profit. For Q4 2025, Grab’s revenue grew by 19% YoY to $906 million.

Anthony Tan, Group CEO and the Co-Founder of Grab, shared,

“We exited 2025 with a record fourth quarter, delivering our first full year of net profit and crossing 50 million Monthly Transacting Users.”

He added on, saying that Grab intends to elevate itself based on this momentum via a multi-year strategy. The said strategy would “focus on further expanding its addressable market through greater affordability and reliability, while harnessing product-led innovations”.

Alex Hungate, COO and President for Grab, shared on LinkedIn,

“As we enter what feels like a third era, we’re determined to show that we can continue to innovate with heart, leaning into AI-first technologies, to become the platform of choice across the region, while expanding possibilities for our partners – not just the gap with our competitors.”

A $1.18 Billion Net Loan Portfolio

The most significant takeaway from Grab’s Q4 2025 and FY 2025 results is Grab’s rapid maturation into a regional financial player.

This transformation is anchored by customer deposits across GXS Singapore and GXBank Malaysia, which reached $1.6 billion at the end of Q4 2025, up from $1.2 billion in the previous year’s fourth quarter.

Grab attributes this growth to customer growth, and notes that a large share of these depositors came from Grab users.

This indicates that Grab is converting substantial super-app engagement into regular banking relationships and sticky funding, which could effectively lower the cost of capital for its lending expansion.

Next, the Grab Q4 2025 results also indicated that the company’s net loan portfolio doubled YoY to $1.18 billion compared to $536 million in Q4 2024. After removing credit loss provisions, Grab shared that its gross loan portfolio was $1.278 billion in Q4 2025, up from $586 million in the prior year.

For the full year 2025, its financial services revenue increased by 37% YoY to $347 million. Grab attributes this YoY growth to more contributions from its lending business, a key driver.

The economics of this segment are also stabilising. Adjusted EBITDA losses for Grab’s financial services segment showed improvement by as much as 6% YoY to -$25 million in Q4 2025.

On a full-year basis, the same segment’s Adjusted EBITDA losses grew by 5%, which Grab highlights was due to higher credit loss provisions as its loan portfolio continued to expand.

To sustain this momentum, Grab resolves to strengthen its credit risk models to scale its loan portfolio further, stating that 90-day non-performing loans are “well within its risk appetite” and that the loan portfolio “generates healthy risk-adjusted returns.”

1 out of 15 Southeast Asians Uses Grab Every Month

Today, roughly 1 in 15 Southeast Asians use Grab monthly. In the regional market, Grab reached a record 50.5 million monthly transacting users (MTUs) in Q4 2025, up 15% YoY from Q4 2024.

MTUs are the monthly number of unique users who transact using Grab’s apps, either paying for or using any of Grab’s products or services. This is a metric Grab uses to evaluate and manage its business, and its management believes is necessary for investors to understand and evaluate its business, too.

Grab recently acquired Stash, an investing platform based in the United States, for US$425 million in enterprise value at closing.

Featured image edited by Fintech News Singapore based on image by Grab and pmvchamara on Freepik