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DBS completes acquisition of ANZ retail and wealth business in Indonesia


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INDONESIA,12 February 2018 -

DBS Bank Ltd (DBS) today announced that it has successfully completed the acquisition of ANZ’s retail and wealth business in Indonesia. This migration also marks the full completion of the acquisition in all five markets.

Since the announcement of the acquisition in October 2016, the respective teams at both DBS and ANZ have been working closely together to ensure a smooth and seamless transition. DBS had announced that it would acquire the retail and wealth business of ANZ in Singapore, Hong Kong, China, Taiwan and Indonesia.


Wawan Salum – Managing Director, Head of Consumer Banking Group at PT Bank DBS Indonesia (first from the left side), DBS Indonesia & DBS Group Board of Directors, Tan Su Shan - Managing Director and Group Head Consumer Banking and Wealth Management Bank DBS Group (fourth from the left side), Paulus Sutisna - President Director PT Bank DBS Indonesia (sixth from the left side), pressing the inauguration button together that officially marked the completion of ANZ's Retail & Wealth Management Business Acquisition in Indonesia

The migration in Indonesia was successfully conducted on 10 - 11 February 2018 and this was the fifth and last market of the transaction in which ANZ’s portfolio of businesses was transferred over to DBS. The first market to complete the migration was China on 17 July, followed by Singapore on 7 August, Hong Kong on 11 September and Taiwan on 11 December last year.

Paulus Sutisna, CEO of DBS Bank Indonesia, said, “Over the past few months, we have been working towards a smooth and seamless transition, and I’m delighted that our businesses in two institutions are being successfully integrated. This migration will further cement our leadership position in Indonesia. The successful integration marks an important milestone, as we welcome the addition of a significant base of wealth customers and staff in Indonesia.

With our solid wealth management franchise, smart and holistic solutions, and our leadership in leveraging digital innovation, we are well positioned as a leading wealth manager in Indonesia. It also gives ANZ’s wealth customers access to tailored solutions and a full suite of universal banking products supported by Asian insights, research and investment advice. I would like to welcome our new colleagues and customers to our DBS family.”


Paulus Sutisna - President Director of PT Bank DBS Indonesia (left side) and Jacking Widjaja representing Consumer Banking Group team (right side) took a photo together at the inauguration of ANZ's Retail & Wealth Management Business Acquisition in Indonesia. This migration will further enhance DBS Bank leadership position in Indonesia, through the enhancement of private banking position footprint of DBS Bank within credit card business in Indonesia market.

Wawan Salum, Managing Director and Head of Consumer Banking Group and Wealth Management, of DBS Bank Indonesia, said, “We are delighted to welcome our new customers and colleagues to DBS. With our broader branch network, tailored solutions, award-winning digital initiatives and a full suite of universal banking products, this is an exceptional opportunity for us to continue offering best-in-class service, advice and solutions to our customers.

This acquisition has allowed us to further enhance our private banking position and our footprint in credit card business in Indonesia market. Thanks to the success of our highly integrated wealth management business model, experienced and talented employees, customer service as well as credit card programs offerings. We are really pleased to welcome our new customers and colleagues to DBS.”


Tan Su Shan - Managing Director and Group Head Consumer Banking and Wealth Management Bank DBS Group conducted potong tumpeng procession as part of the inauguration of ANZ's Retail & Wealth Management Business Acquisition in Indonesia. Since October 2016, DBS Bank has announced the agenda of ANZ’s Retail and Wealth business acquisition in Singapore, Hong Kong, China, Taiwan and Indonesia. Through the acquisition, it supports the achievement of DBS Bank's vision to become Best Bank in The World in 2020. A total number of 600 pax were present at this welcome event.


Board of Directors DBS Indonesia taking pictures together with Board of Director ANZ Indonesia and ANZ employees who are recently acquired by DBS Indonesia. DBS Indonesia conducted a welcome event for ANZ employees at ANZ Tower and ANZ Juanda. Management of DBS Indonesia warmly welcomes all of ANZ's Retail and Wealth Management employees in Indonesia who have officially become part of DBS family. The acquisition process has been conducting since October 2016 and the process has been working successfully including in terms of business and human resources. As many as 500 pax were present at the welcome event in ANZ Juanda

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