RHB aims to become top 10 best brokerate firm in Indonesia

KUALA LUMPUR: RHB Banking Group, through PT RHB Sekuritas Indonesia (PT RHBSI), a subsidiary of RHB Investment Bank, aims to become a top 10 best brokerage firm in Indonesia by 2024.

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

“We have enhanced the resources and rebuilt our capabilities in Indonesia, with the aim of driving our capital markets and advisory business in the country,” said RHB group managing director and group chief executive officer Mohd Rashid Mohamad.

He said this was evident through its recent hiring of senior bankers where it has strengthened the 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,” Mohd Rashid said.

He also said PT RHBSI would continue to grow its retail equities business through differentiated product offerings and improved customer experience to further strengthen its regional institutional equities business supported by the group’s strong regional research capability.

“PT RHBSI is committed to growing our 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,” he said.