OCBC Indonesia to Acquire HSBC Wealth Banking Business

1 hour ago 3

TEMPO.CO, Jakarta - PT Bank OCBC NISP Tbk (OCBC Indonesia) signed an agreement to acquire the International Wealth and Premier Banking (IWPB) business of PT Bank HSBC Indonesia. This acquisition involves the transfer of assets and liabilities from HSBC Indonesia's retail banking and wealth management to OCBC Indonesia. The transaction is expected to close in the second quarter of 2027.

OCBC Indonesia President Director Parwati Surjaudaja stated that the acquisition is a strategic move to strengthen OCBC's position in the wealth management segment in Indonesia.

"HSBC Indonesia's International Wealth and Premier Banking has strong capabilities, a solid customer base, and deep expertise to provide comprehensive wealth management solutions," she said in an official statement, quoted on Thursday, May 7, 2026.

The total assets under management (AUM) to be transferred reaches IDR 89.8 trillion. These assets consist of IDR 58.2 trillion in customer investments in bonds, mutual funds, and insurance, and IDR 31.6 trillion in customer deposits. As part of the transaction, a customer retail loan portfolio of IDR 3.6 trillion will also be transferred.

Upon completion of this transaction, OCBC Indonesia's AUM is expected to increase by approximately 25 percent and drive credit card balance growth of more than 150 percent. IWPB HSBC Indonesia itself serves approximately 336,000 customers through its 262 branches.

Meanwhile, HSBC Indonesia management stated that this transfer was taken following a strategic review of IWPB HSBC Indonesia's operations. Based on this review, management concluded that the transfer was the best decision for HSBC Indonesia, its employees, and its customers.

"This transaction is part of the ongoing simplification efforts at the HSBC Group, with a focus on increasing leadership and market share in areas where HSBC has a competitive advantage and significant opportunities to grow and support its customers," HSBC Indonesia management wrote in a press release, quoted Thursday, May 7, 2026.

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