Citi Indonesia Reiterates Commitment to Customers During Sale Process of The Consumer Bank Business

INDUSTRY.co.id - Jakarta, 18 April 2021 – Citi today reaffirmed there would be no immediate change to how it serves its local consumer bank customers, as it commences the sale process of its Indonesian consumer business, following the global announcement that it will pursue exits from Consumer franchises in 13 markets, including Indonesia.

Citi Indonesia will continue to operate as it does today through the Institutional Clients Group (ICG) where it offers TTS (Treasury and Trade Solutions), MSS (Markets and Securities Services/Custodian), BCMA (Banking Capital Market Advisory) which comprise of local corporations, government and state owned enterprises, financial institutions and multinational corporations, CCB (Citi Commercial Bank) and Capital Market Services through PT. CSI (Citigroup Sekuritas Indonesia).

Citi Indonesia CEO Batara Sianturi says that Citi has a strong and profitable consumer business in Indonesia, employing a highly skilled and dedicated team. Citi strives to pursue the best possible outcome for our customers and employees.

He added the sale process will take time and Citi will pursue a prudent and systematic strategic process in continuous close coordination with its headquarter, stakeholders, and regulators such as the Financial Services Authority (OJK) and Bank Indonesia (BI), as well as provide the latest information in regards to the progress of the process.

“During the sale process, our Consumer operations including branches, call centers and digital services, will continue to operate as they do today. Our customers will receive the same high- quality service they are accustomed to across our full suite of products and services,” said Batara.

Citi Consumer Banking operations in Indonesia encompass credit card, personal loan, retail branch banking, wealth management, individual banking services which consist of Citigold, Citi Priority and Citi Banking, digital banking services, bancassurance, phone banking services/CitiPhone and consumer operations, etc.

Citi has been in Indonesia since 1968 with a dedicated team and strong client base that have contributed to its success. Citi currently serves 90% of the 20 largest companies in Indonesia and last year it raised more than US$10 billion for our clients in the country. During the past year, Citi Indonesia has earned various prestigious accolades including Digital Bank of the Year from The Asset, Best International Bank in Indonesia from Asia Money and Best International Bank in Indonesia 2020 from Finance Asia.