Investment bank Credit Suisse has started trading as a full member of the Indonesia Stock Exchange. The bank’s brokerage offering in the country comprises equity research, sales, sales trading and execution.
“We are excited about the prospects for the Indonesian market, and extremely pleased to be part of the select group of foreign brokers operating in Indonesia,” says Kai Nargolwala, CEO of Credit Suisse Asia Pacific. “Our membership of the Indonesia Stock Exchange complements our leading investment banking franchise in Indonesia, and will allow us to provide more products and services to our clients.”
Credit Suisse is forecasting 6% GDP growth for Indonesia in 2008, compared with an estimated 6.2% in 2007 and 5.5% in 2006. The economy is expected to benefit this year from strong foreign direct investment inflows, a healthy current account surplus and improved business and consumer sentiment, according to the bank’s analysts.
Credit Suisse offers its clients direct exchange access in 10 countries in the Asia Pacific region.
The firm also operates PT Credit Suisse Investment Management Indonesia, an investment manager that offers investment advisory services and solutions to high net worth individuals and corporates in Indonesia