Peter Oey on financial services
From How Grab Became Southeast Asia's Everything App (Ft. Grab CFO Peter Oey) · · Brew Markets
“We're committed to break even by the end of this year. Uh and we're on the right trajectory to get there and the reason why actually we are still in the loss making position while it's narrowing also is because the banks infrastructure we have to build building three digital banks uh it's not cheap. So we've invested and we've created this infrastructure. Now it's ready. The cost is now fixed. Now it's just a matter of scaling.”
On , Peter Oey, Chief Financial Officer & Director at Grab Holdings, spoke about financial services during How Grab Became Southeast Asia's Everything App (Ft. Grab CFO Peter Oey) on Brew Markets.
About Peter Oey
Peter Oey, chief financial officer of Grab, stated in a May 2026 interview that rising fuel prices from the Iran conflict had not affected demand, citing robust growth in April with an all-time high in delivery transactions. He said Grab was on track to break even in its financial services business by the end of 2026, noting that the company's gross loan portfolio reached $1.4 billion and loan disbursements exceeded $1 billion in the first quarter. Oey also discussed the company's investment in AI infrastructure, describing it as a "conscious decision" to build a tokenization stack and cloud capacity. Oey described Southeast Asia as a "big opportunity" due to a young, mobile-first population and a growing middle-income bracket. He noted that Grab generated $15 billion for drivers and merchants in the previous year and emphasized the company's role in providing credit to those without access to traditional banking. Oey also highlighted a $400 million accelerated share repurchase program, calling it a reflection of Grab's conviction in its long-term value. He stated that Grab was preparing for the potential deployment of autonomous vehicles in the region through partnerships and investments, while continuing to focus on product expansion and affordability.