Indonesia’s leading digital banks in 6 charts

Indonesia was among the first countries in Southeast Asia to introduce digital banks, with its inaugural digital bank launching in 2016. Today, the country has more than 15 players in the space, consisting of both digital-native platforms and conventional banks that have built their own apps.

In December 2025, homegrown Superbank officially went public, joining digital banks like Bank Jago, Allo Bank, and Bank Neo Commerce on the Indonesia Stock Exchange. Superbank, which is backed by Grab, Emtek Group, and Singtel, raised 2.8 trillion rupiah (US$158 million) in its market debut.

The company’s share price has risen by around 7% as of May 19. Notably, the firm went from losses in 2024 to becoming profitable in 2025.

And more recently, Grab said that Superbank will become a subsidiary of the firm after Singtel transfers its stake in the lender to Grab’s GXS Bank, lifting the super app’s combined holding to above 50%.

Most digital banks in the archipelago recorded a net profit before tax in 2025. The two exceptions were Bank Raya, which is backed by state-owned lender BRI, and Bank Saqu, which is backed by conglomerate Astra and WeLab.

Bank Raya has explained that this result was because the company took corrective measures against legacy borrowers, with the bank increasing reserves to gradually reduce exposure to those problematic loans.

See also: PH digital banks chase profits as regulator ups the stakes

SeaBank, owned by Sea Group in Indonesia, stood out by posting a net interest income of US$463 million last year, the highest among the players we compared. The figure was more than triple its closest competitor, Bank Jago, which recorded a net interest income of US$139 million.

In terms of net profit before tax, SeaBank also overtook Allo Bank, which led the category in 2024. In 2025, SeaBank posted a pre-tax profit of US$49 million, while Allo Bank followed behind with US$41 million.

This marks the fourth consecutive year SeaBank has recorded a net profit.

Bank Aladin also entered the black in 2025, reversing losses from the previous year.

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