Tuesday, 11 December 2018 | 22:29 WIB

Citibank Indonesia rakes IDR1.4 trillion Net Profit in Q3 2018

JAKARTA, NNC - Citibank N.A. Indonesia (Citibank) recorded a net profit of IDR1.4 trillion at the end of the Q3 2018, as well as good growth in loans and Third Party Funds (DPK).

The Citibank N.A., Indonesia's credit portfolio at the end of the quarter gained 22 percent year-on-year (yoy) to IDR48.5 trillion, driven by growth in the Institutional Banking business line, mainly from the financial, mining and manufacturing sectors.

This credit growth was also backed by the momentum of good 10 perent TPF growth, allowing the Bank to maintain a solid 76.5 percent lending-to-funding (RIM) ratio.

Although it recorded high asset growth, the capital level and asset quality were maintained, where the Citibank Minimum Capital Adequacy Ratio (KPMM) was at 23.95 percent and the gross and net Non-Performing-Loan ratio was 2.37 percent and 0.70 percent, respectively.

Citibank N.A. Indonesia CEO Batara Sianturi expressed his happiness in achieving the double-digit credit growth.

"Citibank N.A. Indonesia has a strong balance sheet with a very adequate and liquid capital level," said Batara.

In the Consumer Banking business line, Citibank has successfully reintroduced and continued the "Live Large" campaign, which provides benefits for Citi Telkomsel credit card holders in the form of additional data packages of up to 20GB to enjoy urban digital lifestyles along with other benefits such as, Buy 1 Get 1 Free promo at XXI Cinema, Buy 2 Get 3 at Excelso Coffee, and an additional T-cash balance bonus.

Through this campaign, Citibank succeeded in increasing a new acquisition from Citi Telkomsel credit card holders by 24 percent. Citibank also promoted the "No Luck Required" program for all Citi Credit Card holders nationwide.

By using the Citi Credit Card for any transaction, customers can get special prizes such as travel vouchers valuing IDR 20 million, Shell gasoline voucher, exclusive digital camera and Samsung S9 phone.