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OCBC To Buy HSBC Indonesia’s IWPB Business
May 5, 2026
OCBC’s Indonesian subsidiary, PT Bank OCBC NISP, has agreed to acquire HSBC Indonesia’s International Wealth and Premier Banking (IWPB) portfolio. The move is part of OCBC’s continued push to deepen its footprint in Southeast Asia’s largest economy. The deal will bring in 336,000 customers, S$6.6bn ($5.2bn) in AUM, and a staff of ~1,300. Based on unaudited figures as of end-2025, the portfolio comprises S$4.3bn ($3.4bn) in customer investments across mutual funds, bonds and insurance, SGD 2.3bn ($1.8bn) in deposits, and a small retail loan book of S$300mn ($200mn). OCBC has not disclosed a final purchase price, but stated that the consideration, which includes a premium of up to S$480mn, will be determined post-completion. The transaction is expected to grow OCBC Indonesia’s AUM by 25%, expand its credit card balances by more than 150%, and be earnings accretive. The transaction will be funded internally by PT Bank OCBC NISP and is targeted for completion in 2Q2027. For HSBC, the divestment follows a strategic review of its Indonesian wealth and premier banking operations and aligns with its broader global effort to simplify the group and redirect capital toward its corporate and institutional banking franchise.
OCBC’s bonds traded stable with its 5.52% 2034s at 102.3, yielding 4.7%
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