JAKARTA, NETRALNEWS.COM - Citibank N.A., Indonesia (Citibank) has closed the third quarter of 2019 with net income of IDR2.4 trillion year-to-date, or a 70-percent increase as compared to the same period last year.
The net income growth translated to Return on Equity (ROE) that rises to 19.14 percent, up from 11.55 percent in the third quarter of 2018. This has also raised Return on Asset (ROA) to 4.82 percent, up from 3.02 percent in the same period last year.
In addition to recording 70-percent growth in profitability, Citibank has maintained strong capital and good assets quality, with Capital Adequacy Ratio (CAR) reported at 25.51 percent, and gross and net NPL at 2.53 percent and 0.5 percent, respectively.
"Citibank manages to close the third quarter with solid financial performance. We continue to be committed to growth and economic progress by being the best for our clients," said Batara Sianturi, Chief Executive Officer of Citibank N.A., Indonesia, in Jakarta on Thursday (11/14/2019).
In Consumer Banking, Citibank remains committed to delivering the best customer experience by prioritizing innovation and digitization. The bank continues to deliver a Mobile-First mindset and enhanced its Citi Mobile digital platform for Retail Banking and Credit Cards businesses.
In Credit Cards, Citibank has collaborated with Traveloka in introducing Citi Rewards Points-Traveloka Points Conversion program. Through this program, Citi Credit Card customers who are also Traveloka users can easily exchange Citi Rewards Points/Miles into Traveloka Points in real-time, and thus providing greater convenience and a new experience for Citi Credit Card customers.
In Retail Banking, Citibank hosted the Citigold Investment Series to share insights and projections on Indonesia's economy outlook as well as domestic and global market trends. In Wealth Management, Citibank received international recognition after being awarded as "Wealth Management Platform of the Year in Indonesia" by Asian Banking and Finance magazine.
In Institutional Banking, Global Subsidiaries Group (GSG) business recorded double digit market share pick-up in Multi-National Corporations (MNCs) segment through Asia-to-Asia initiatives with key corridors such as China-Indonesia, Taiwan-Indonesia, Korea-Indonesia and Japan-Indonesia.
Treasury and Trade Solutions business won notable award from Global Finance magazine as "Best Corporate/Institutional Digital Bank in Indonesia". The Corporate and Investment Banking business continues to provide products and services with value add solution products for our institutional clients, including participation in global capital markets.
In Corporate Social Responsibility (CSR) program, Citibank held the Young Entrepreneurs Gathering for 50 youths from 5 regency in Danau Toba areas, namely Tapanuli Utara, Toba Samosir, Humban Hasundutan, Samosir and Simalungun. Citibank also held Sociopreneurs Talk themed "Be A Changemaker with Social Enterprise", involving hundreds of high school/vocational school students in Jakarta to strengthen the sociopreneurship empowerment program for young people.
To cap the third quarter, Citibank won the "Best International Bank in Indonesia" from Asiamoney magazine. Judging criterias were based on several factors, namely the bank’s retail and credit card banking operations, services such as cash management, trade finance and foreign exchange, as well as capital market businesses and M&A/advisory mandates.
"These positive achievements that we have done in the third quarter of 2019 will serve as a benchmark for us to continue Citibank's solid performance for the rest of the year. We would like to express our appreciation to all employees, business partners, clients and stakeholders of Citibank for their trust and partnership," Batara added.