# OCBC aims to reach an agreement that could value HSBC’s consumer business in the country at more than 6 trillion rupiah (S$445 million) The Singapore bank is the likeliest buyer after outbidding others, people said.

*fintech · news · 2026-04-17 · The Straits Times*

## Key points

- OCBC has emerged as the preferred bidder for HSBC's Indonesian retail banking assets.
- The deal could value HSBC's consumer business in Indonesia at over 6 trillion rupiah.
- This would mark OCBC CEO Tan Teck Long's first acquisition since taking the role.
- Competing bidders included DBS, UOB, CIMB, and Sumitomo Mitsui Financial Group.

**Companies:** HSBC Holdings, OCBC, DBS Group Holdings, UOB, CIMB Group Holdings, Sumitomo Mitsui Financial Group
**Countries:** Singapore, Indonesia, Australia, Egypt, Japan

[Read the full story on The Straits Times](https://www.straitstimes.com/business/banking/ocbc-is-lead-bidder-for-hsbcs-indonesia-assets-sources)

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