In 2009, HSBC Group bought Bank Ekonomi Raharja (Bank Ekonomi), a local bank with a presence across the breadth of Indonesia. In October 2016, Bank Ekonomi was rebranded PT Bank HSBC Indonesia.
On 17 April 2017, HSBC Group integrated the operations of HSBC Foreign Bank Branch in Indonesia with PT Bank HSBC Indonesia to form PT Bank HSBC Indonesia, with the license as commercial bank based on the decree of Board of Commissioners of Financial Services Authority (OJK) No.15/KDK.03/2016 dated 4 October 2016, Bank Indonesia letter No.22/1221/UPPS/PSbD dated 2 March 1990, and the decree of Minister of Finance of the republic of Indonesia No.104/KMK.013/1990 dated 12 February 1990. This was a major milestone in HSBC Group’s history in Indonesia. The integration allowed HSBC to expand the range of banking propositions, as well as to contribute directly to the growth of the Indonesian economy by connecting customers to opportunities through our expanded capabilities and geographic network in the country.
PT Bank HSBC Indonesia offers a wide range of products and services in commercial, wholesale and retail banking and wealth management. The Bank’s substantial domestic footprint and HSBC Group's global network capabilities, means 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 HSBC Group has a presence.