Citigroup Inc. said it has received approval from the Indonesian Stock Exchange to broker equities in the country. The stock-exchange seat will enable Citigroup to offer local and international clients direct access to Indonesian shares. Citigroup, which started operations in Indonesia in 1968, already has sales and trading in foreign exchange, fixed income, credit and commodities in the country.
The U.S. bank also has an equity research group in the country, which it has been expanding since the beginning of this year in anticipation of the approval of its seat by the Indonesian Stock Exchange.
“We continue to invest in our Asia Pacific equities franchise to help our local clients and also our global clients who are increasingly looking to invest in Asian equities given the regional growth prospects,“ said Adrian Faure, Citgroup's Asian-Pacific head of equities.
“It will alsomake it easier for our clients to invest in the Indonesian market.“
Citigroup has equity desks in more than 80 countries globally and is the largest foreign bank in Indonesia by assets. THE WALL STREET JOURNAL
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