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Grab expands finance business to boost profitability before IPO

Ride-hailer ‘studying closely’ opportunity for Singapore digital bank license

Grab claims its app has been downloaded over 160 million times. (Photo by Ken Kobayashi)

SINGAPORE -- Southeast Asia’s largest ride-hailing operator Grab is expanding its financial services arm and considering applying for a banking license in Singapore as it seeks to boost profitability before a future IPO.

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