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Citi, HSBC, StanChart Send More Indonesia Profits Back Home as Prabowo Demands Rise

Citi, HSBC, StanChart Send More Indonesia Profits Back Home as Prabowo Demands Rise
Bloomberg Markets Sunday 28 June 2026, 23:00 UTC By Harry Suhartono 1 min read
Key Points

Citi, HSBC, StanChart Send More Indonesia Profits Back Home as Prabowo Demands Rise The three biggest foreign banks in Indonesia have shipped around $640 million of their earnings out of Southeast Asia’s largest economy since 2024 as they pare exposure amid President Prabowo Subianto’s increasingly state-focused economic policies. The Indonesian units of Citigroup Inc., Standard Chartered Plc and HSBC Holdings Plc remitted a total of 11.5 trillion rupiah ($640 million) over the last two...

Citi, HSBC, StanChart Send More Indonesia Profits Back Home as Prabowo Demands Rise The three biggest foreign banks in Indonesia have shipped around $640 million of their earnings out of Southeast Asia’s largest economy since 2024 as they pare exposure amid President Prabowo Subianto’s increasingly state-focused economic policies. The Indonesian units of Citigroup Inc., Standard Chartered Plc and HSBC Holdings Plc remitted a total of 11.5 trillion rupiah ($640 million) over the last two years, slightly exceeding their combined profits for the period, according to an analysis of their financial statements.
Citi (ORG) HSBC (ORG) StanChart Send More Indonesia Profits Back Home (ORG) Indonesia (LOCATION) Southeast Asia’s (LOCATION) Prabowo Subianto (PERSON) Indonesian (ORG) Citigroup Inc. (ORG) Standard Chartered Plc (ORG) HSBC Holdings Plc (ORG)
Originally published by Bloomberg Markets Read original →

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