SeaBank: a digital bank tops Indonesia's App Store

SeaBank is the Indonesian digital bank of Singapore-based Sea Group, created when Sea acquired the small licensed Bank Kesejahteraan Ekonomi, renamed it Bank SeaBank Indonesia in February 2021 and relaunched it as a phone-first bank in July 2021. Rather than advertise a new banking brand, the product was built into commerce users already did: transfers and bill payments inside the app, QRIS at merchants, and direct links to Shopee accounts for checkout and payments.

The growth is visible on the app charts themselves. On the 2026-09-02 snapshot SeaBank was the #1 top-free app on Indonesia's overall App Store chart — above GoPay, ChatGPT, DANA and Shopee — with a 4.9 rating from roughly 328K reviews. AppTweak counted 15.3M downloads across the App Store and Google Play in the May 2025–April 2026 window, making SeaBank the #4 finance app in Indonesia and the only major banking app with positive year-on-year download growth (+18.8%) while DANA, ShopeePay, GoPay, BRImo and Livin by Mandiri all declined.

The chart position tracks business fundamentals: SeaBank passed 30M customers by the end of March 2026 — its fifth year — with more than 13M daily transactions and over Rp6T in daily money turnover that month, then reached 35M customers and 16.8M daily transactions with Rp7.1T daily turnover by June 2026. Net profit was Rp749.26B in H1 2026 (+250% YoY) and Rp373.7B in Q2 alone (+219% YoY), while loans grew 53.1% to Rp39.81T, deposits grew 47.6% to Rp41.8T with CASA at 69.6%, gross NPL held at 1.65% and ROE reached 23.64%.

SeaBank opened a ninth branch, in Medan, in May 2026 to serve unbanked customers, and was named to Forbes' World's Best Banks 2026. As of 2026-09-02 it is still scaling, with the unresolved test being whether downloads translate into durable deposits once promotions and rate offers ease, and whether a ~95% loan-to-deposit ratio plus rising impairment charges keep the unit economics as clean as the 2026 results suggest.