RHB aims to become top 10 broker in Indonesia

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

The plan is part of the group’s new three-year Together We Progress 2024 (TWP24) strategy of building an integrated overseas business, where Indonesia will be one of its key markets within the Asean region.

RHB Banking Group CEO and managing director Mohd Rashid Mohamad said it has 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.

“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 has enabled us to launch our maiden and the very first IDR Structured Warrants issuance listed on Indonesia Stock Exchange. 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 PT RHBSI will continue to grow its retail equities business through differentiated product offerings, customer experience and strengthen its regional institutional equities business.

PT RHBSI is committed to growing its market share within the equity and capital markets landscape in Indonesia and will continue to play an important role in supporting the growth of the Indonesian equity and capital markets industry.