OCBC has agreed to acquire the assets and liabilities of HSBC’s retail and wealth management operations in Indonesia through its subsidiary, Bank OCBC NISP Tbk,
The deal is expected to add S$6.6 billion in OCBC Indonesia’s assets under management (AUM), 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
A customer retail loan book of S$0.3 billion will also be transferred to OCBC Indonesia
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