Monday, 25 May 2020 | 12:24 WIB

Citibank Indonesia Obtains Net Income of IDR3 Trillion in 2019

Citibank Indonesia Obtains Net Income of IDR3 Trillion in 2019 (special)

JAKARTA, NETRALNEWS.COM - Citibank N.A., Indonesia has obtained Net Income of IDR3 Trillion in 2019, including improvements in net interest income and net operating income. 

Net Interest Income grew 5% from a year ago to IDR4.4 Trillion on the back of the increase in average loans balance and as the bank have actively managed to increase its low cost fund ratio. 

The net operating income growth relates to net trading income and operating cost efficiencies. 

The growth in Net Income has contributed to an increase in Return on Equity (ROE) to 17.9%, up from 12.5% in 2018, while Return on Asset (ROA) rose to 4.7% from 3.2% from last year. 

Citibank continues to remain well capitalized and highly liquid, with Capital Adequacy Ratio (CAR) at 26.8% and RIM at 81.4%. 

In addition, Citibank continues to maintain its assets quality, with gross and net NPL reported at 2.4% and 0.5%, respectively. 

"Citibank managed to close 2019 with a solid financial performance. While the global economic outlook for 2020 remains volatile due to the COVID-19 situation, we remain committed to continue to serve our customers and communities, navigating through these challenging times together," said Batara Sianturi, CEO of Citibank N.A., Indonesia, in Jakarta, on Thursday (04/09/2020) 

In Consumer Banking, the bank strengthened its client-centric model and rapidly accelerated the digital transformation throughout key pillars of business, namely Credit Cards, Retail Banking and Wealth Management.  In Credit Cards, Citibank worked on enhancing the Citi Mobile App interface exclusively for Credit Card users, thus resulting in an increase on the number of mobile active users by 69%. 

Citibank also collaborated with Traveloka in introducing Citi Rewards Points - Traveloka Points Conversion program, in which customers can exchange their Citi Reward Points with Traveloka Points in real time. In Wealth Management, Citibank managed to gain international recognition by being named as "Wealth Management Platform of the Year" from Asian Banking and Finance Magazine. 

In Institutional Banking, Treasury and Trade Solutions business won a notable award from Global Finance magazine as "Best Corporate/Institutional Digital Bank in Indonesia" for its strong strategy and execution capability in providing solutions and servicing customers in the digital ecosystems. 

The Corporate and Investment Banking business continues to provide value add banking products and services and our global network to institutional clients. Meanwhile, Global Subsidiaries Group posted strong double-digit growth and market share pick-up in Multi-National Corporations (MNCs) segment through various initiatives including Asia-to-Asia.

Citibank Relief Efforts for COVID-19 

Citibank supports the government’s direction in issuing national economic stimulus for customers who are impacted by COVID-19 in Indonesia. Customers affected by COVID-19 may call Citibank at (021) 751 9200 from 8 am to 5 pm on Monday to Friday. 

"We want our customers to know that we continue to actively support them by providing assistance that they need in these challenging times," explained Batara. 

Citibank has also implemented preventive and proactive measures to employees in regard to the COVID-19 situation, including a substantial investment to enable the largest number of employees to work remotely.