RHB aims to become top 10 broker in Indonesia

From left: PT RHB Sekuritas Indonesia president commissioner Hasan Fawzi, RHB group managing director/chief executive officer Mohd Rashid Mohamad, RHB group wholesale banking managing director Syed Ahmad Taufik Albar, RHB Investment Bank managing director and chief executive officer Ganesh Sabaratnam and PT RHB Sekuritas Indonesia chief executive officer Thomas Nugroho.

PETALING JAYA: RHB Banking Group through PT RHB Sekuritas Indonesia (PT RHBSI), a subsidiary of RHB Investment Bank, aims to become a Top 10 Broker in Indonesia by 2024.

The bank, in a statement, said this was part of the group’s new three-year Together We Progress 2024 (TWP24) strategy of building an integrated overseas business, where Indonesia would be one of its key markets within the Asean region.

Group managing director/chief executive officer Mohd Rashid Mohamad said the bank had enhanced its resources and rebuilt capabilities in Indonesia, with the aim of driving its capital markets and advisory business in the country.

“This is evident through our recent hiring of senior bankers where we have strengthened our management bench and capital markets team in Indonesia. We will have better collaboration between local and regional experts, to bring to the market innovative investment products and services that will meet clients’ needs,” he said.

“In 2018, we launched our online trading platform, RHB Tradesmart Indonesia, which today contributes to 80% of PT RHBSI trading value, an increase from 20% in 2018.

“Our continued investment and efforts in driving innovative capital market solutions, have enabled us to launch our maiden and the very first IDR structured warrants issuance listed on Indonesia Stock Exchange (IDX).

“This offers a new and innovative offering to investors, providing diversification of investment. The structured warrants are set to cater to investors who are looking for affordable exposure to stocks,” Mohd Rashid said.

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RHB , PT RHB Sekuritas , Indonesia , Broker


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