HSBC (00005) may sell its retail business assets in Indonesia. Bidders may include DBS, OCBC, and Sumitomo Mitsui.

According to media reports, it has been revealed by informed sources that some major Asian banks are preparing to bid for HSBC HOLDINGS' (00005) retail business assets in Indonesia, in order to continue expanding their presence in the largest economy in Southeast Asia. The banks mentioned by the sources include Singapore's DBS Group Holdings, OCBC Bank, and UOB, as well as Malaysia's CIMB Group Holdings Bhd and Japan's Sumitomo Mitsui Financial Group. The sources disclosed that HSBC is in discussions with advisors regarding the potential sale of its retail business in Indonesia. The valuation of the assets involved in the transaction could exceed 200 million US dollars (approximately 1.56 billion Hong Kong dollars). The sources stated that the relevant considerations are still ongoing, and binding bid proposals will be submitted in mid-March. HSBC has previously stated that it is conducting a targeted strategic evaluation of its retail business in Australia, Indonesia, and Egypt, but has not made any decisions yet.