$GRAB Financial Services Revenue may be higher than Mobility by Q3 2027 and start competing with Deliveries. Mobility is the cash cow, consistently in the mid to high single digits of GMV (historical range roughly 8.5–9%). Management targets long term steady state of 9%+ of GMV. Deliveries has lower margins due to higher incentives and fulfillment costs but is expanding (helped by advertising). Long term target is 4%+ of GMV. GrabFin is on track to be profitable in H2 2026, the loan book scales rapidly (gross loan portfolio nearly tripled YoY to $2.3B in Q2 2026). Followed by progressive margin expansion as the portfolio matures, credit models improve, low cost deposits from digital banks (GXS, GXBank, Superbank) fund lending, and recently expanding Credit Card & Microlending. Grab
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