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OCBC to Acquire HSBC HOLDINGS' Indonesia Retail Banking & Wealth Mgmt Biz
2026-05-05 08:18:20 OCBC announced that its Indonesian subsidiary will acquire HSBC HOLDINGS (00005.HK)'s retail banking and wealth management businesses in Indonesia, namely International Wealth and Premier Banking (IWPB Indonesia). The transaction is expected to be completed in the second quarter of next year. The total AUM to be transferred is SGD6.6 billion, OCBC said. Total consideration for the transaction will be calculated based on net asset value of IWPB Indonesia at completion, plus a premium of up to approximately SGD480 million (HKD40.48 billion). Upon completion of the transaction, it is expected to increase OCBC Indonesia’s AUM by 25% and grow the credit card balances by more than 150%. ~ AASTOCKS Financial News Website: www.aastocks.com | |