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Singapore's Grab, Singtel take stakes in Indonesia's Bank Fama

Superapp provider and telecom major increase bets on promise of banking sector

Grab and Singtel expand their financial businesses by investing in an Indonesian bank. (Source photos courtesy of Grab and Reuters) 

JAKARTA -- Superapp provider Grab and Singapore Telecommunications have invested in an Indonesian bank, weeks after the city-state-based superapp provider poured funds into another lender in the island nation.

The deal is the latest in a slew of transactions Grab has made in Indonesia's financial sector as it chases its ambitions to serve the archipelago's vast unbanked and underbanked population.

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