OCBC is an Indonesia's 8th largest bank by assets and has 337 branches and offices and 780 ATMs located across the country.

[5] In 1997, Bank NISP entered a joint venture with OCBC Indonesia, with the opening of PT Bank OCBC-NISP, with an initial paid-up capital of 150 billion rupiah.

PT Bank OCBC NISP Tbk (“OCBC Indonesia”) on November 16, 2023 entered into a Sale and Purchase Agreement (“SPA”) with Commonwealth Bank of Australia (“CBA”) to acquire 99.0% of the shares in PT Bank Commonwealth (“PTBC”) from CBA (the “Proposed Acquisition”).

OCBC Indonesia also intends to acquire the remaining 1.00% shares of PTBC from the other shareholders.

The proposed acquisition is subject to regulatory approvals from Financial Services Authority of Indonesia (Otoritas Jasa Keuangan), Annual General Meeting of Shareholders (AGMS) and satisfaction of certain other conditions.