Market Chatter: OCBC Outbid Rival Banks in HSBC Deal

MT Newswires
05/20

Oversea-Chinese Banking Corp. or OCBC (SGX:O39) outbid several competitors by more than $100 million for its recent deal to acquire retail and wealth assets held in Indonesia by HSBC Holdings (HKG:0005), according to a report by Bloomberg on Wednesday.

Citing people familiar with the matter, the report added that a higher offer allowed the bank to enter negotiations to conclude the deal for the Indonesian bank.

The value of the deal is expected to be finalize once the deal completes in the first half of 2027, the report added.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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