HSBC Indonesia Acquired by OCBC | Financial Services M&A Deal

OCBC has completed the acquisition of HSBC Indonesia, a banking business in Indonesia, for $476.5 million. OCBC acquires HSBC Indonesia’s retail and wealth management operations, adding S$6.6 billion in assets under management across mutual funds, bonds, insurance, and customer deposits. The HSBC Indonesia acquisition also transfers a S$300 million customer retail loan book to OCBC Indonesia, expanding wealth and credit card capabilities in Indonesia. This strategic acquisition is an add on acquisition under financial services M&A, expected to close in the second quarter of 2027, funded internally, and structured on net asset value plus a premium of up to 6.5 trillion rupiah.