Singapore's OCBC to Buy HSBC Wealth, Premier Banking Portfolio in Indonesia

OCBC acquires HSBC’s retail and wealth management operations in Indonesia

The move will add 336,000 customers and US$5.17 billion in assets under management to OCBC Indonesia.

OCBC to buy HSBC wealth, premier banking portfolio in Indonesia

The deal will transfer HSBC Indonesia's International Wealth and Premier Banking portfolio to PT Bank OCBC NISP, or OCBC Indonesia, and is expected to increase OCBC Indonesia's assets under management by 25 per cent.

OCBC to buy HSBC Indonesia’s retail banking business in first major deal under new CEO

The acquisition will add 336,000 customers and $6.6 billion in assets under management to OCBC Indonesia. Read more at straitstimes.com.

OCBC to Acquire HSBC Indonesia’s Retail, Wealth Assets

Oversea-Chinese Banking Corp. is buying HSBC Holdings Plc’s retail and wealth assets in Indonesia, deepening its presence in Southeast Asia’s largest economy.

Singapore's OCBC to buy HSBC wealth, premier banking portfolio in Indonesia

Oversea-Chinese Banking Corp said on Monday its Indonesian unit has agreed to acquire certain assets and liabilities of HSBC's wealth and premier banking portfolio in Indonesia, expanding the Singapore lender's presence in Southeast Asia's largest economy.

OCBC to acquire HSBC Indonesia retail and wealth units

OCBC Indonesia has signed an agreement with PT Bank HSBC Indonesia to take over the assets and liabilities tied to HSBC Indonesia’s retail banking and wealth management business in the country, known as International Wealth and Premier Banking (IWPB Indonesia).  The bank said the final price has not yet been set.   It stated that the consideration will be determined after completion and will include a premium of up to S$480m.  The transfer cover…