OCBC Indonesia Reaps a Windfall from HSBC Indonesia's Business Acquisition
Retail customers and employees of HSBC Indonesia will gradually transition to OCBC Indonesia. The main challenge is to maintain the quality of service.
By Erika Kurnia
05 Mei 2026 14:28 WIB · English
JAKARTA, KOMPAS — PT Bank OCBC NISP Tbk or OCBC Indonesia officially signed an acquisition agreement for the assets and liabilities of the retail banking and asset management or wealth management businesses of PT Bank HSBC Indonesia (HSBC Indonesia).
This corporate action is projected to strengthen OCBC Indonesia’s position in the wealth management segment, while also being part of OCBC Group’s broader strategy to drive their business expansion in Indonesia.
Citing an official release reported on Tuesday (5/5/2026), through this transaction, OCBC Indonesia will take over the International Wealth and Premier Banking (IWPB) portfolio owned by HSBC Indonesia. This portfolio includes customer deposit services, investment products such as bonds, mutual funds, and insurance, as well as credit cards and retail loans.
Based on data as of December 31, 2025, the total assets under management (AUM) to be transferred from HSBC Indonesia to OCBC Indonesia reached IDR 89.8 trillion. This comprises IDR 58.2 trillion in investment products and IDR 31.6 trillion in customer deposits. In addition, there is a transfer of a small-scale retail credit portfolio worth IDR 3.6 trillion.
The President Director of OCBC Indonesia, Parwati Surjaudaja, stated in an official statement that this acquisition is a strategic step to deepen the company’s capabilities in the asset management segment.
“We are very enthusiastic to serve IWPB HSBC Indonesia customers with wealth solutions from OCBC Indonesia, complemented by the whole-of-wealth proposition of the OCBC Group,” he said.
The two institutions involved have a long track record in the Indonesian financial market. OCBC Indonesia, established in 1941, has transformed into one of the leading private banks with an extensive network of 201 branches across 54 cities as of the end of March 2026. Meanwhile, HSBC Indonesia is part of the HSBC Group, which has been operating in Indonesia for 142 years.
In its performance, HSBC Indonesia has been recognized as the number one Trade Finance service provider in Indonesia in the Euromoney survey for 2024-2026 and has global assets reaching 3.233 billion US dollars as of December 31, 2025. On the other hand, this acquisition will bring 336,000 HSBC IWPB customers into the OCBC Indonesia ecosystem.
For HSBC, this step is part of the global operational simplification efforts of HSBC Group to focus more on areas with competitive advantages and high growth potential.
HSBC has reaffirmed its full commitment to developing its Corporate and Institutional Banking business in Indonesia, which has become their main focus by serving nearly 4,000 corporate clients. The bank’s corporate business has thus far facilitated foreign direct investment and trade financing with ASEAN, mainland China, Hong Kong, the United States, and the United Kingdom.
“This transfer is the best decision for HSBC Indonesia, its employees, and its customers,” said management in a press release.
In addition to transferring approximately 1,300 employees from HSBC Indonesia to OCBC Indonesia, this acquisition will add at least 336,000 new customers to the OCBC Indonesia ecosystem. OCBC Indonesia is projected to experience an increase in Assets Under Management (AUM) of around 25 percent, as well as a growth in credit card balances of more than 150 percent.
Both parties are committed to ensuring that the transition process runs smoothly for customers and employees in the coming months. OCBC Indonesia guarantees the security of customer funds in accordance with applicable regulations during the transition period.
The transaction is expected to be completed in the first half of 2027, provided that all parties comply with the approval from the relevant regulatory authorities.
The main challenge for OCBC is to ensure that customers receive a level of service that is equal to or even better than the standards that have been provided by HSBC Indonesia.
Separately, banking observer and Senior Vice President of the Indonesian Banking Development Institute (LPPI), Trioksa Siahaan, assessed that from a business perspective, this move will strengthen OCBC Indonesia’s premium customer base and AUM with higher margins. This will also strengthen OCBC’s position as a major player in the wealth management industry.
Regarding the comparison of advantages, Trioksa assesses that this is more about strategic choices than mere capabilities. “Global banks generally have a more complex cost structure and different business orientations, while OCBC has the advantage of understanding local market characteristics and building closeness with customers,” he stated when contacted.
For retail customers of HSBC transitioning to OCBC Indonesia, this transition is expected to continue providing sustainable benefits with a touch of local service. “However, in the short term, it is still necessary to anticipate a transition period, such as system adjustments and relationships with the new managers,” he stated.
In agreement, banking observer from the Business Study Center of Prof Dr Moestopo University, Paul Sutaryono, assesses that the main challenge for OCBC is to ensure that customers receive a level of service that is equal to or even better than the standards that have been provided by HSBC Indonesia.
“Certainly, long-time customers miss the same quality of service or even better than what they received from HSBC Indonesia,” he stated when contacted separately.
Despite these complexities, OCBC is expected to reap a windfall in the retail banking and wealth management businesses. “OCBC Indonesia will reap various benefits from this inorganic corporate action. These include wealthy customers and a strong, proven team in these areas,” he said.
Writer:
Erika KurniaEditor:
Agnes Theodora