OCBC’s Indonesia deal boosts wealth push, may herald more M&A under new CEO Tan Teck Long: analysts
Industry watchers say the bank might look to high-growth Asean markets for more acquisitions
Add BT as a preferred source
[SINGAPORE] OCBC’s latest Indonesian acquisition is expected to strengthen its fee income base and expand its wealth franchise in South-east Asia’s largest economy, as pressure on lending margins pushes banks to diversify earnings.
Analysts said the “bolt-on” deal could also signal more acquisitions to come, particularly in high-growth Asean markets where global banks are trimming their retail and wealth operations.
On Monday (May 4) night, OCBC announced that its Indonesian subsidiary, Bank OCBC NISP Tbk, would acquire HSBC’s retail and wealth management operations in Indonesia.
TRENDING NOW
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
MAS convenes bank CEOs over AI cyberthreats; boards told to own risks, not leave to IT teams
Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why
LTA circular to potential EV charger owners reveals hundreds of e-mail addresses under carbon copy feature
