OCBC scouting for Indonesian acquisitions

Financial strength: People walk by the OCBC Bank at the central business district in Singapore. — Reuters

SINGAPORE: Singapore-based Oversea-Chinese Banking Corp Ltd (OCBC) is hunting for acquisitions in Indonesia to speed up its growth, aiming to leverage a strong capital buffer built up in recent years, the head of South-East Asia’s second-biggest bank says.

“Indonesia offers a lot of potential. Would I look at inorganic? Yes, I will, when the right thing comes along,” Helen Wong, who took over as chief executive officer (CEO) of the lender in April 2021, told Reuters in an interview.