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# Singapore's OCBC to Acquire HSBC Indonesia's International Wealth and Premier Banking Portfolio
- URL: https://www.theglobalbanker.com/ocbc-acquire-hsbc-indonesia-international-wealth-premier-banking-portfolio/
- Published: 2026-05-04T10:39:00.000Z
- Updated: 2026-10-01T23:26:34.000Z
- Description: OCBC Indonesia will acquire HSBC Indonesia's International Wealth and Premier Banking portfolio for net asset value plus a premium of up to S$480 million.
- Author: TGB Editorial Team
- Tags: M&A, Asia-Pacific

PT Bank OCBC NISP, the Indonesian unit of Oversea-Chinese Banking Corporation, has agreed to acquire the assets and liabilities of HSBC Indonesia's International Wealth and Premier Banking portfolio, the Singapore-based group said on Monday.

The transaction will be executed at net asset value plus a premium of up to S$480 million, according to the disclosure, and is expected to complete in the second quarter of 2027\. The acquisition will be funded internally.

#### EXPANDING THE WEALTH FRANCHISE IN INDONESIA

The portfolio comprises about 336,000 customers and S$6.6 billion in assets under management, including S$2.3 billion of deposits and S$0.3 billion of retail loans, and about 1,300 staff will move across. OCBC said the deal would lift OCBC Indonesia's assets under management by about 25 per cent and increase its credit card balances by more than 150 per cent.

OCBC chief executive Tan Teck Long said the deal fits the bank's Next Frontier strategy of building up its Indonesia franchise, calling Indonesia a long-term commitment and a key growth market. It is the first major acquisition under Mr Tan, who became group chief executive in January 2026.

The acquisition, once complete, will bring HSBC's Premier customers in the country under the OCBC umbrella, subject to the usual regulatory approvals in Indonesia. Mr Tan said the portfolio's S$2.3 billion deposit base, with sizeable CASA balances, was attractive in providing stable low-cost funding.

#### PRICING STRUCTURED AS NAV PLUS PREMIUM

The purchase consideration has been structured as net asset value at completion plus a premium of up to S$480 million, according to OCBC's disclosure. The final consideration will be determined after completion.

The deal will be funded internally by OCBC Indonesia, and OCBC said it is expected to be earnings accretive excluding one-time costs, with no material impact on its net tangible assets, earnings per share or capital.

Completion is targeted for the second quarter of 2027.

For HSBC, which is led by group chief executive Georges Elhedery, the sale followed a strategic review and forms part of efforts to simplify the group; HSBC said its corporate and institutional banking business in Indonesia is unaffected. For OCBC, the deal follows its 2024 acquisition of Commonwealth Bank of Australia's Indonesian unit.

OCBC is one of Singapore's three local banking groups, alongside DBS Group and United Overseas Bank, and has a long-standing regional franchise built around its Southeast Asian presence and its Bank of Singapore private banking arm. 

OCBC Indonesia said it would work with HSBC Indonesia on a smooth migration of customers and employees, with further details to be shared closer to completion.