OCBC NISP Acquires 20% Stake in GE Life

Jakarta, CNBC Indonesia - PT Bank OCBC NISP Tbk (NISP) signed a Conditional Shares Purchase Agreement (CSPA) with The Great Eastern Life Assurance Company Limited (GEL) on 8 June 2026. Under this agreement, OCBC Indonesia will purchase a 20.00% stake in PT Great Eastern Life Indonesia (GELI) from GEL.

The completion of the share acquisition is subject to the fulfilment of certain conditions precedent, as agreed by the parties in the CSPA, and the receipt of regulatory approval regarding the takeover of GELI by OCBC Indonesia. Once the bank obtains regulatory approval, they will announce a summary of the takeover plan and the Transaction Plan.

The acquisition plan is being undertaken to comply with Financial Services Authority Regulation (POJK) Number 30 of 2024 concerning Financial Conglomerates and Financial Conglomerate Holding Companies (PIKK).

“The takeover of GELI by the Company is carried out within the framework of forming the OCBC Group Indonesia Financial Conglomerate, where the Company acts as the Operational Financial Conglomerate Holding Company (PIKK) and GELI serves as a member of the Financial Conglomerate,” stated the President Director of OCBC Indonesia, Parwati Surjaudaja, in an information disclosure cited on Tuesday (9/6/2026).

The value of the proposed acquisition of GELI shares is IDR 201.98 billion. Parwati stated that the funding for the plan will be sourced from OCBC Indonesia’s internal funds.

Upon completion of the Transaction Plan, OCBC Indonesia will directly hold a 20.00% stake in GELI (including one preferred share) which grants the bank controlling rights over GELI. Consequently, OCBC Indonesia will become the controlling shareholder of GELI, with the Company acting as the PIKK and GELI as a member of the Financial Conglomerate.