OJK Comments on OCBC's Acquisition of HSBC Indonesia's Wealth Business

The Financial Services Authority (OJK) has responded to the corporate action plan of PT Bank OCBC NISP Tbk (OCBC Indonesia) to acquire the wealth management business line of PT Bank HSBC Indonesia (HSBC Indonesia).

OJK’s Executive Head of Banking Supervision, Dian Ediana Rae, stated that OJK is aware of the plan and will monitor the process closely.

“OJK is certainly aware of the acquisition plan for HSBC Indonesia’s International Wealth and Premier Banking business by OCBC Indonesia, as announced in the company’s official release,” Dian Ediana told kumparan on Tuesday (5/5).

Dian views this corporate action as part of the trend towards strengthening banking services, particularly in the upper-middle-class customer segment.

“OJK regards this corporate action as part of the strategy to strengthen wealth management and priority banking services, as well as the dynamics of consolidation in the banking industry,” she said.

She added that OJK will ensure the process runs in accordance with applicable rules, while prioritising financial system stability and customer protection.

“OJK will guide this process in accordance with the applicable provisions through licensing and assessment mechanisms, while emphasising principles of prudence, customer protection, and financial system stability,” Dian stated.

Previously, PT Bank OCBC NISP Tbk (OCBC Indonesia) signed an agreement with PT Bank HSBC Indonesia (HSBC Indonesia) to acquire the assets and liabilities of its retail banking and wealth management in Indonesia, or International Wealth and Premier Banking (IWPB Indonesia).

According to a written statement from OCBC Indonesia, IWPB is built on a premium global financial services proposition serving retail and wealth customers, offering comprehensive banking products and services, as well as wealth management tailored to needs.

This portfolio includes customer deposits, investment products such as bonds, mutual funds and insurance, credit cards, and retail loans, which will deepen OCBC Indonesia’s wealth management business while supporting the OCBC Group’s Next Frontier strategy in driving Franchise Shift.

Excluding one-off transaction costs, the transaction is expected to have a positive impact on OCBC Indonesia’s earnings after completion, anticipated in the second quarter of 2027.