fintech / news / / The Straits Times
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.
OCBC has emerged as the preferred bidder for HSBC's Indonesian retail banking assets.
KEY POINTS
- 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
Summarized by Newsio from The Straits Times. How we summarize →