Oversea-Chinese Banking Corporation reportedly leads the bid for HSBC's retail business in Indonesia

Glonghui, April 17th｜According to Bloomberg, Singapore's OCBC Bank is leading the bid for HSBC Holdings' retail assets in Indonesia, offering a higher price than other competitors and may become the preferred bidder. Sources indicate that OCBC Bank's bid could value HSBC's Indonesian retail business at more than 6 trillion Indonesian rupiah. Discussions are still ongoing, no final decision has been made, and other bidders may still prevail. Other interested bidders reportedly include Singapore's DBS Group, United Overseas Bank, Malaysia's CIMB Group, and Japan's Sumitomo Mitsui Financial Group.