OCBC NISP Officially Acquires HSBC Indonesia's Wealthy Customer Services

Jakarta, VIVA - PT Bank OCBC NISP Tbk has officially signed an acquisition agreement for the assets and liabilities of the retail banking business and asset management or wealth management of PT Bank HSBC Indonesia. This corporate action is projected to strengthen OCBC NISP’s position in the wealth management segment, while also forming part of the broader strategy of Singapore-based OCBC Group to drive its business expansion in Indonesia. Citing the official OCBC NISP website, on Wednesday, 6 May 2026, the company will take over HSBC Indonesia’s International Wealth and Premier Banking (IWPB) portfolio, with the transaction value to be finalised and announced upon completion. This portfolio encompasses customer deposit services, investment products such as bonds, mutual funds, and insurance, as well as credit cards and retail loans. Excluding one-off transaction costs, the deal is estimated to impact OCBC NISP’s performance post-completion, expected in the second quarter of 2027. For context, the IWPB offered by HSBC Indonesia is a specialised banking service segment targeted at affluent customers. This segment provides services extending beyond mere banking accounts to wealth management, serving more than 336,000 customers through 26 branches. At HSBC Indonesia, this service requires customers to have a minimum balance of Rp1 billion, granting them a personal Relationship Manager (RM), access to global services, lifestyle benefits such as travel, and affordable or even free transaction fees. HSBC Indonesia’s decision to divest its wealth and premier banking is quite surprising, given that this segment is one of their core businesses. Previously, there were rumours that HSBC Indonesia intended to offload its retail segment amid the parent bank’s plans to focus on affluent customers and exit mass retail. The total assets under management (AUM) to be transferred amount to Rp89.8 trillion, comprising customer investments in bonds, mutual funds, and insurance worth Rp58.2 trillion, and customer deposits of Rp31.6 trillion. As part of the transaction, a portfolio of small retail loans worth Rp3.6 trillion will also be transferred. The total transaction value is determined based on agreed principles between the buyer and seller, taking into account various factors, including the business prospects of IWPB and the potential synergies that can be realised by OCBC NISP.