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05.05.26 - 04:24
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OCBC acquires HSBC′s retail and wealth management in Indonesia (SCMP)
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OCBC, the second-largest banking group in Southeast Asia, has agreed to acquire HSBC's retail and wealth management operation in Indonesia through its subsidiary, PT Bank OCBC NISP Tbk, according to the Singapore lender.
The acquisition would add 336,000 customers and S$6.6 billion (US$5.17 billion) in assets under management to OCBC Indonesia, comprising S$4.3 billion of customers' investments in mutual funds and bonds, as well as insurances and customer deposits of S$2.3 billion, Monday......
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