Strengthening Premium Business, Bank OCBC NISP Acquires HSBC Indonesia's Retail and Wealth Assets

JAKARTA - PT Bank OCBC NISP Tbk (NISP) has signed an agreement with PT Bank HSBC Indonesia (HSBC Indonesia) to acquire the assets and liabilities from its retail banking and wealth management operations in Indonesia (International Wealth and Premier Banking/IWPB Indonesia).

IWPB Indonesia is built on a global premium 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.

The transaction involves the transfer of IWPB HSBC Indonesia’s assets and liabilities to OCBC Indonesia. The total assets under management (AUM) to be transferred amount to Rp 89.8 trillion, comprising customer investments in bonds, mutual funds, and insurance worth Rp 58.2 trillion and customer deposits of Rp 31.6 trillion. As part of the transaction, a portfolio of small retail loans worth Rp 3.6 trillion will also be transferred.

The total transaction value is determined based on agreed principles between the buyer and seller, considering various factors including the business prospects of IWPB Indonesia and the potential synergies that can be realised by OCBC Indonesia. The transaction value will be finalised and announced upon completion.

IWPB Indonesia is one of the largest foreign-owned retail banking and wealth management platforms in Indonesia and has consistently been recognised as a top-tier wealth manager in the country. IWPB Indonesia serves more than 336,000 customers through its 26 branches.

The customer base of IWPB Indonesia complements OCBC’s in Indonesia, opening significant opportunities for the bank—whose shares are held by prominent investor Lo Kheng Hong—to expand its wealth management business. Upon completion of the transaction, OCBC Indonesia’s AUM is expected to increase by around 25%, driving credit card balance growth by more than 150%.

The transaction will strengthen OCBC Indonesia’s wealth management talent pool with the addition of approximately 1,300 employees. This will further enhance wealth management capabilities in delivering the OCBC Group’s whole of wealth proposition, as part of a broader integrated financial services group that includes private banking services under Bank of Singapore and insurance under Great Eastern.

OCBC Indonesia President Director Parwati Surjaudaja stated that this acquisition is a strategic step to strengthen our position in the wealth management segment in Indonesia. HSBC Indonesia’s International Wealth and Premier Banking has strong capabilities, a solid customer base, and deep expertise in providing comprehensive wealth management solutions.

“We are very excited to serve HSBC Indonesia’s International Wealth and Premier Banking customers with OCBC Indonesia’s wealth solutions, complemented by the OCBC Group’s whole of wealth proposition. As an integrated financial services group, OCBC Group combines capabilities and deep knowledge from Bank of Singapore and Great Eastern to deliver a comprehensive suite of banking, investment, and insurance products and services,” said Parwati on the company’s official website on Monday (4/5/2026).

She added that OCBC Indonesia will work closely with HSBC Indonesia to ensure a smooth customer and employee migration process after the acquisition is completed. “Supported by a track record of more than 85 years in Indonesia, the bank remains committed to maintaining customer trust by ensuring customer funds are always safe in accordance with applicable regulations,” she concluded.

Further information regarding this matter will be announced closer to the transaction completion date. As of 31 March 2026, OCBC serves customers through 201 office networks in 54 cities in Indonesia. Additionally, customers can transact via 510 OCBC ATMs, around 85,000 ATM networks in Indonesia, and are connected to more than 400 OCBC Group ATM networks in Singapore and Malaysia.