PT Bank HSBC Indonesia

The HSBC Group is one of the largest banking and financial services organisations in the world and has a unique international pedigree. Many of its principal companies opened for business over a century ago and have a history rich in variety and achievement. The HSBC Group is named after its founding member, The Hongkong and Shanghai Banking Corporation Limited, which was established in 1865 in Hong Kong.

HSBC’s origins in Indonesia can be traced back to 1873. The bank appointed merchant-agents to act on its behalf in Jakarta, formerly known as Batavia.

Following a series of failures by appointed merchant-agents, the bank decided to open its own bank-staffed agency in Jakarta on 5 July 1884. Its first manager was Archibald Maccoll, who had previously worked for the bank’s agents, Martin Dyce & Co. It was unusual for the bank to hire a local merchant to be their manager – they usually recruited in London for young men with experience of banking. However, Mr Maccoll’s experience in the trade of Indonesia and the relationships he had already established with customers in the region meant he was of considerable value to the bank and he worked hard to build up the business of the branch.

The bank operations expanded to Surabaya, formerly known as Sourabaya.

The bank’s business of trade finance and Chinese deposits continued to increase even during the First World War.

More than 60 years after its first establishment in Indonesia the bank continued to operate until it was forced to close during the Second World War and again in the mid-1960s.

After the hard times, HSBC re-opened in Jakarta with a new banking license that was granted in September 1968.

HSBC gained approval to open a branch at Surabaya in the first half of 1989. Since then, it has become one of the largest foreign bank operations in Indonesia.

The first full branch at Semarang was launched by upgrading an existing agency.

In 2009, HSBC Group bought Bank Ekonomi Raharja (Bank Ekonomi), a local bank with a presence across the breadth of Indonesia.

Seven years later, in October 2016, Bank Ekonomi was rebranded PT Bank HSBC Indonesia. On 17 April 2017, HSBC Group integrated the operations of PT Bank HSBC Indonesia with HSBC Foreign Bank Branch in Indonesia to form a single organisation under the name of PT Bank HSBC Indonesia.

The Bank’s substantial domestic footprint and HSBC Group's global network capabilities mean the Bank is well placed to support customers with best in class solutions both at home in Indonesia and overseas in the markets and territories where the Group has a presence.