OCBC leads race for HSBC Indonesia retail unit – report [Yahoo! Finance]
Sumitomo Mitsui Financial Group Inc Unsponsored American Depositary Shares (Japan) (SMFG)
US:NYSE Investor Relations:
smfg.co.jp/english/investor
Company Research
Source: Yahoo! Finance
The Singapore-based lender is looking to expand further in South-east Asian market. The bank is seeking to strike a deal that may value HSBC's consumer banking business in Indonesia at more than Rp6tn ($350m), the people said. They requested anonymity because the talks are private. According to the sources, OCBC is viewed as the most likely buyer after offering more than rival bidders. However, negotiations are still under way and no binding outcome has been reached. They also said additional bidders could still come forward. An OCBC representative declined to comment. An HSBC spokesperson said the bank is examining strategic options for its retail banking business in Indonesia and that no decision has yet been taken. OCBC already operates in Indonesia through its Jakarta-listed unit, PT Bank OCBC NISP. The lender has expanded in the market through both organic growth and acquisitions, including PT Bank Commonwealth Indonesia in 2024. If completed, the transaction w
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SMFG
Sec Filings
- 4/9/26 - Form 3
- 4/1/26 - Form 6-K
- 3/18/26 - Form 3
- SMFG's page on the SEC website