Monday, 27 May 2019 | 04:41 WIB

Citibank Indonesia Posts Net Income Growth of 44 Percent to IDR838 Bln

Loans and Third Party Funds Grew 15% and 11%, Respectively (special)

JAKARTA, NETRALNEWS.COM - In the first quarter of this year, Citibank N.A., Indonesia (Citibank) has obtained net income of IDR 838 billion, a 44% increase from first quarter of 2018. This excellent result was driven by net interest income growth to IDR 1.1 trillion and net trading income hike to IDR 313 billion.
 
The growth of revenues has contributed to the increase in Return on Equity (ROE) to 20.75% from 14.31% the previous year and the rise of Return on Asset (ROA) to 5.26% from 3.95% in the first quarter 2018. 
 
Loan portfolio grew by 15% year-on-year to IDR 48.2 trillion. Institutional Banking business was the main contributor with growth seen primarily in manufacturing, mining and financial intermediary sectors. 
 
This positive performance is well supported by a sustained level of quality third-party funds which increased by 11%, enabling the Bank to maintain a   solid lending-to-funding ratio (RIM) of 79.21%.
 
While posting significant growth in assets, the Bank’s capital adequacy and asset quality continue to be robust, with Capital Adequacy Ratio (CAR) at 23.37% and gross and net NPL at 2.30% and 0.53%, respectively. 
 
Citibank N.A., Indonesia Chief Executive Officer Batara Sianturi stated, “We’ve made a very good start in 2019. We are committed to growth and economic progress, by being the best for our clients.”
 
In Institutional Banking, Citibank continues to deliver solutions, contents and value add products to its clients. In Global Subsidiaries Group, Citibank Indonesia held its annual Economic and Political Outlook seminar for clients, which aimed to provide a complete and comprehensive review and analysis on the economic and political trend impacting the market as well as digitization outlook in Indonesia.  In Markets, Citibank Indonesia provides Garuda Indonesia with Citi InstantFX solution to improve personalized booking experience. With this initiative, international passengers from outside of Indonesia may now pay for their flight tickets and other purchases made via the website and mobile app in the currency of their choice. For the initial phase, international passengers may select any of the following currencies to complete their booking: THB, EUR, JPY, HKD, GBP, SGD, USD and AUD. By enabling its passengers to select their preferred currency, passengers are now able to confirm and see the final billing amount without having to wait for the credit card statement.
 
In Consumer Banking, Citibank Indonesia and PT. BNP Paribas Investment Partners (BNP Paribas IP) launched a socially responsible themed index fund named “BNP Paribas IDX30 Filantropi”. The ‘Filantropi’ theme is the result of BNP Paribas IP and Citibank Indonesia’s aligned vision to give back to society. This theme also resonates with both firms’ continued focus on investing with a positive social impact, where a certain percentage of assets raised from the fund will be disbursed for social causes.  In Credit Cards, Citibank Indonesia introduced a simpler approach for Citi Cash Back card to satisfy increasing customer demand. The card is now refreshed with a flat rate Cash Back with no Cash Back limit, no merchant restrictions, no spending requirement and no expiry date. 
 
“The positive achievements that we have accomplished in this first quarter of 2019 will serve as a benchmark for us to continue in enabling growth and economic progress to our clients and community. We would like to express our appreciation to all the employees, business partners, clients and stakeholders of Citibank for their cooperation and trust. We trust that Citibank will always prove to be a long-standing banking partner in Indonesia,” closed Batara.