finance
Grab CFO Says Fuel Prices Unaffected Demand Amid Q1 Revenue Growth
Grab's chief financial officer stated that rising fuel prices linked to the Iran conflict have not impacted demand. The company reported a 24% increase in first-quarter results. Grab plans to launch new banking products and aims to break even in its financial services by year-end.
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Grab's chief financial officer, Peter Oey, stated that rising fuel prices stemming from the Iran conflict have not yet affected customer demand for the company's services. The company announced a 24% increase in its first-quarter results, which cover the period ending March 31, 2026, based on the current date of May 5, 2026.
Oey added that Grab will continue to introduce new banking products as part of its expansion strategy. He also confirmed that the financial services business remains on track to achieve break-even status by the end of 2026.
The statements came during a discussion of the company's performance, highlighting resilience in demand despite external pressures from fuel costs. Grab operates in ride-hailing, delivery, and financial services, with the recent results indicating growth in these areas.
No specific details on the new banking products were provided, but the focus is on enhancing offerings to support profitability goals.
