Asia’s Biggest Banks Line Up Bids for HSBC Indonesia Assets

Some of Asia’s biggest banks are working on bids for HSBC Holdings Plc’s retail assets in Indonesia, according to people familiar with the matter, helping them to forge ahead in Southeast Asia’s largest economy.

The banks include Singapore-based DBS Group Holdings Ltd., Oversea-Chinese Banking Corp. and United Overseas Bank Ltd., as well as Malaysia’s CIMB Group Holdings Bhd. and Japan’s Sumitomo Mitsui Financial Group Inc., the people said, asking not to be identified because the deliberations are private.