Citibank eyes 30% asset growth

JAKARTA: Indonesia set a target of Citi's asset under custody in fund services and securities services (SFS) to grow by 30% in the next year along with the high confidence of investors and significant number of financial instruments.Securities Country Manager of Citi Indonesia Daniel Wijono said the aggressive growth target of SFS service for next year is based on performance evaluation result in this year.He revealed the average estimation of the assets under custody growth and financial revenue will reach 30%."This year, assets under custody grew 30%, while the financial revenue grew 25%. The result was higher than the previous estimation since in 2009 and 2008, the situation is quite difficult [for the company]," he said after Citi Capital Market Outlook, today.He is pretty optimistic that the great number of available investment instruments on the market within next year surely will encourage foreign and local investors to invest in Indonesia.The effect, of course, the increase on investment will automatically boost the volume of transactions in the country. SFS is a financial service provided for corporate clients such as fund managers, banks, insurance companies and pension funds. (t03/wiw)

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