---
title: "News: OCBC Bank becomes the preferred bidder for HSBC Indonesia assets | Lianhe Zaobao"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/283091240.md"
description: "OCBC Bank has become HSBC's preferred bidder for its retail banking business in Indonesia, with an acquisition valuation exceeding IDR 600 trillion (approximately SGD 445 million). OCBC Bank aims to expand its influence in the Indonesian market through this acquisition, and its bid is currently higher than that of other bidders. However, the final outcome is still uncertain, with other bidders including DBS Group, UOB, CIMB Group, and Sumitomo Mitsui Financial Group. HSBC has not yet made a final decision"
datetime: "2026-04-17T04:47:20.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/283091240.md)
  - [en](https://longbridge.com/en/news/283091240.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/283091240.md)
---

# News: OCBC Bank becomes the preferred bidder for HSBC Indonesia assets | Lianhe Zaobao

OCBC Bank hopes to reach an agreement to acquire HSBC's retail banking business in Indonesia, potentially valuing HSBC's assets at over 600 trillion Indonesian rupiah (approximately SGD 445 million).

Bloomberg cited sources familiar with the matter stating that OCBC Bank has emerged as the preferred bidder in HSBC's sale of its Indonesian retail assets. OCBC Bank aims to expand its footprint in the Indonesian market, which is the largest market in Southeast Asia.

Currently, OCBC Bank's bid is higher than those of other bidders, but discussions are still ongoing, and the final outcome has yet to be determined, as there may be other bidders that could emerge.

Spokespersons for both OCBC Bank and HSBC declined to comment on the matter. An HSBC spokesperson only stated that the bank is exploring strategic options for its retail banking business in Indonesia and has not made any decisions yet.

#### Further Reading

OCBC Bank: Middle East exposure only 2% to 3%, closely monitoring stagflation risks OCBC Bank partners with Ant International to launch embedded financial services in Indonesia

Other contenders for HSBC's Indonesian assets include DBS Group Holdings, UOB, and CIMB Group and Japan's Sumitomo Mitsui Financial Group.

If the acquisition of Indonesian assets is successful, it will be the first acquisition project under the leadership of OCBC Bank President Samuel Tsien. He plans to deepen expansion in Asia, adopt more technology, and support clients in their transition to net-zero emissions.

HSBC has stated that it is conducting a targeted strategic review of its retail banking operations in Australia, Indonesia, and Egypt, but no decisions have been made so far. It has also announced the initiation of a strategic review of HSBC Life Singapore's insurance business

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