OCBC Indonesia Acquires HSBC Indonesia's Retail Wealth Management Business
PT Bank OCBC NISP Tbk (NISP) has officially acquired the assets and liabilities of the International Wealth and Premier Banking (IWPB) retail business from PT Bank HSBC Indonesia through a signing agreement on Monday (4/5/2026). This strategic move includes the transfer of various customer investment products and deposits to deepen the company’s retail market penetration.
This corporate action encompasses the transfer of deposit portfolios, bonds, mutual funds, insurance, credit cards, and retail customer loans. According to Detik Finance, the integration process is targeted to be fully completed in the second quarter of 2027.
The total assets under management (AUM) to be transferred in this transaction amount to Rp89.8 trillion. This figure consists of customer investment values of Rp58.2 trillion and deposit funds reaching Rp31.6 trillion.
In addition to the assets under management, HSBC Indonesia will also hand over a small retail credit portfolio valued at Rp3.6 trillion to OCBC Indonesia. The total transaction value is set based on the net asset value of the IWPB business plus a premium of around Rp6.5 trillion, although this amount may still change according to the agreement’s adjustment mechanism.
Currently, IWPB Indonesia serves approximately 336,000 individual customers across 26 branches throughout the country. Following the completion of the transaction, OCBC Indonesia projects a 25% increase in AUM, growth in credit card balances exceeding 150%, and the addition of around 1,300 new employees.
This expansion is viewed as part of the group’s long-term growth strategy in Southeast Asia’s largest market. OCBC Group CEO, Tan Teck Long, provided explanations on the relevance of this acquisition to the company’s business roadmap in Indonesia.
“This acquisition in Indonesia aligns perfectly with our Next Frontier strategy under Franchise Shift to build our franchise network in Indonesia. It follows the successful acquisition and integration of PT Bank Commonwealth Indonesia in 2024, in expanding our market penetration in Southeast Asia’s largest economy. Indonesia is a long-term commitment and a key growth market,” stated Tan Teck Long, CEO of OCBC Group.
Tan Teck Long emphasised that the availability of a deposit base worth US$2.3 billion with a significant CASA portion is a major attractive factor. This is seen as providing a stable source of low-cost funding for the business’s ongoing operations.
“The strong deposit base of US$2.3 billion, with a large CASA portion, is an attraction in providing a stable and low-cost funding source for our business in Indonesia, while also opening significant opportunities in the wealth management segment,” said Tan Teck Long, CEO of OCBC Group.
The group also expressed optimism about the synergies that will emerge from collaboration between OCBC, Bank of Singapore, and Great Eastern. This integration is expected to strengthen the company’s position in delivering comprehensive wealth management services to all customers.
“The company is also optimistic about the scale and synergies brought by this high-quality portfolio to the Group, along with the collaboration of OCBC, Bank of Singapore, and Great Eastern in delivering a whole-of-wealth proposition,” stated Tan Teck Long, CEO of OCBC Group.
Management expressed their readiness to welcome all new retail customers and staff transferring due to this corporate action. Tan Teck Long concluded his statement by affirming the importance of the assets and human resources involved in the acquisition.
“We look forward to the opportunity to serve HSBC Indonesia’s retail customers and customers with irreplaceable assets, as well as welcoming our new colleagues into the OCBC family,” concluded Tan Teck Long, CEO of OCBC Group.