The deal will add customers and assets as OCBC expands its presence in the country.
Oversea-Chinese Banking Corporation (OCBC) Ltd has agreed to acquire the retail banking and wealth management business of HSBC Indonesia in Indonesia through its subsidiary OCBC Indonesia. The final purchase price will be based on the net asset value at completion The transaction covers HSBC Indonesia’s International Wealth and Premier Banking (IWPB) operations, including customer deposits, investment products, credit cards and retail loans. The portfolio includes around 336,000 custo