-- OCBC Indonesia has agreed to acquire HSBC's (HSBC) International Wealth and Premier Banking operations, adding about 336,000 customers and 89.8 trillion Indonesian rupiah ($5.6 billion) in assets under management, the company said Monday.
The bank said the deal includes customer deposits, investment products, insurance, credit cards, and retail loans, and is expected to be earnings accretive after completion, excluding one-off transaction costs.
OCBC Indonesia said the acquisition will expand its wealth management franchise, lift assets under management by about 25%, and increase credit card balances by more than 150%.
The company added that the deal is expected to close in the second quarter of 2027.
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