Overview
- OCBC Indonesia agreed to acquire HSBC Indonesia’s International Wealth and Premier Banking portfolio, a deal announced Monday that moves 336,000 customers and S$6.6 billion in assets under management.
- The portfolio includes S$4.3 billion in client investments such as mutual funds, bonds, and insurance, S$2.3 billion in deposits, and a S$0.3 billion retail loan book based on year‑end figures.
- The final price will be set at closing based on net asset value with a premium of up to S$480 million, with completion targeted for the second quarter of 2027.
- OCBC says it will fund the purchase internally and expects it to lift earnings after one‑off costs, with no material impact on capital, net tangible assets, or earnings per share at signing.
- About 1,300 HSBC Indonesia employees will join OCBC Indonesia, marking the first major deal under new group CEO Tan Teck Long and following OCBC’s 2024 buy of PT Bank Commonwealth Indonesia, while HSBC refocuses on corporate and institutional banking in the country.