OCBC to Acquire HSBC Indonesia Wealth Portfolio

Southeast Asia wealth expansion is gathering pace as OCBC’s Indonesian unit agrees to acquire HSBC Indonesia’s wealth and premier banking portfolio.

The transaction will transfer 336,000 customers, SGD6.6bn (USD4.88bn) in assets under management and around 1,300 staff to PT Bank OCBC NISP.

The portfolio includes SGD4.3bn(USD3.18bn) in investments, SGD2.3bn(USD1.70bn) in deposits and SGD0.3bn(USD0.22bn) in retail loans, based on unaudited end-2025 figures.

OCBC said the deal will include a premium of up to SGD480m(USD355.20m), with final consideration to be determined upon completion, expected in the second quarter of 2027.

The acquisition follows OCBC’s 2024 purchase of PT Bank Commonwealth Indonesia, reinforcing its Southeast Asia wealth expansion strategy.