Citigroup Inc. has received approval from the Tokyo Stock Exchange to list its shares on the bourse effective Nov. 5, the U.S. banking giant said Monday.Citigroup, the largest U.S. financial institution, will be listed under the name "Citi," the company said in a statement. "Citi is listing on the Tokyo Stock Exchange because we believe in the continuing prominence of Tokyo as a global financial center and view Japan as an attractive market for growth," Chairman and Chief Executive Office Charles Prince said in the statement.

The U.S. banking group has been making efforts to expand its operations in the world's second-largest economy.

Earlier this month, Citigroup announced it would make Nikko Cordial Corp., Japan's third-largest brokerage, a wholly owned unit by buying all the outstanding shares it doesn't already own for stock worth about 530 billion yen ($4.64 billion).



Citigroup already held a 68 percent stake in Nikko Cordial, bought earlier this year.

Separately, Nikko Cordial said Monday that its profit for the first fiscal half rose 48 percent to 33.42 billion yen ($292.6 million) from 22.52 billion yen the same period a year earlier.

First-half sales grew nearly 30 percent to 248.04 billion yen ($2.17 billion) from 191.41 billion yen.

Citigroup said it hopes to draw on Nikko Cordial's retail brokerage business in Japan to boost its product offerings here.

Citi's acquisition came after Nikko Cordial was embroiled in an accounting scandal that eventually forced its chief executive and chairman to resign and dealt a heavy blow to its business.