Bank Citigroup will list its shares in Tokyo as early as November as part of the financial giant's push into the world's second-largest economy, sources familiar with the matter told Reuters on Monday.

Citigroup is one of several financial firms looking to target Japan's millions of wealthy individuals and the country's estimated $13 trillion in household assets.

The U.S. lender relaunched its local unit as a Japanese bank in July, becoming the first foreign bank to receive approval to operate as a local entity and making it easier to open new branches.

The bank has applied to list its shares in Tokyo and is expected to be approved by the Tokyo Stock Exchange as early as November, the sources said.

A spokeswoman for Citigroup in Japan declined to comment.

The bank first said early this year it was considering a Japanese listing. Since then, it has said it plans to list shares, not depositary receipts, on the Tokyo exchange.