JAKARTA, Thekabarnews.com—PT Bank OCBC NISP Tbk (OCBC Indonesia) has entered into a definitive agreement to acquire HSBC’s retail banking and wealth management business in Indonesia. This includes International Wealth and Premier Banking (IWPB) from PT Bank HSBC Indonesia.

The deal is one of the largest transactions in the banking sector in 2026. Moreover, PT Bank OCBC NISP Tbk Indonesia expects this move to significantly strengthen its position in premium retail banking and wealth management.

The deal includes HSBC’s premium retail and wealth customer portfolio, comprising deposits, investment products such as bonds, mutual funds and insurance, and credit cards and retail loans.

OCBC Indonesia expects the transaction to enhance long-term wealth management growth and revenue performance after it completes the integration process.

The company said it expects the corporate action to be earnings accretive on a stand-alone basis upon closing. The closing is targeted for the second quarter of 2027, excluding one-time transaction costs.

Under the deal, OCBC Indonesia will acquire total assets under management (AUM) of Rp89.8 trillion. Customer investments stand at Rp58.2 trillion and customer deposits at Rp31.6 trillion.

The deal also includes a smaller retail loan portfolio worth Rp3.6 trillion, the company said. The two parties will jointly determine the transaction value, considering the business outlook and potential synergies.

The companies will announce the final figure when they are nearer the completion stage.

“This acquisition is a strategic move to deepen our position in the Indonesian wealth management industry,” said OCBC Indonesia President Director Parwati Surjaudaja.

“HSBC’s IWPB business is one of the largest foreign wealth management platforms in Indonesia, with more than 336,000 customers through a network of 262 branches, HSBC’s,” she said.

“This acquisition is an important strategic move to strengthen our position in the wealth management segment in Indonesia. Additionally, we believe that we can provide more holistic wealth solutions for our customers,” Parwati said in an official statement issued on Monday, May 4, 2026.

OCBC Indonesia expects its assets under management to grow about 25 percent once the deal is closed.

The deal could also more than double the growth of credit card balances. In addition, it will significantly expand the bank’s premium consumer financing segment.

The acquisition will also increase OCBC Indonesia’s workforce by some 1,300 employees. Consequently, the deal will enhance service capabilities across its wealth management operations and on the human resources front.

OCBC Group’s broader “Next Frontier” strategy is driving the acquisition, which centers on business transformation through integrated wealth management services.

This includes support for private banking services from Bank of Singapore and the insurance space for Great Eastern.

“We will work closely with HSBC Indonesia to ensure a smooth migration for both customers and employees after closing the transaction,” said OCBC Indonesia.

The management also reiterated its focus on working to retain the trust of customers and secure funds as per the prevailing regulatory requirements.

The company announced that it will reveal the details of the transition process and final terms of the transaction as the completion date approaches.

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