Citi Indonesia the most expansive Foreign Bank

Foreign Bank Performance
Citi Indonesia the most expansive Foreign Bank

Citi Indonesia credit expansion in 2007 grow IDR 1.49 trillion from IDR 20.86 trillion to IDR 22.35 trillion. That is the biggest credit channeling compare with other five foreign banks that operating in Indonesia.

From growth percentage, BNP Paribas are the first then followed by JP Morgan. both banks grow 58,66% and 33,47%. BNP Paribas credit rose from 895 billion to IDR 1.42 trillion and JP Morgan from IDR 959 billion to IDR 1.28 trillion.

Citi booked net profit IDR 1.65 trillion or increase 39,83%. this net profit gain is the biggest among six foreign banks that had publish its financial report. whereas the highest net profit percentage growth achieved by American Express from IDr 713 million to IDR 17.51 billion, rose 157,14%.

Shariq Mukhtar, Indonesia Citi Country Officer said profit growth trigerred by net interest income and operating income increase. 

In 2006, net interest income were IDR 2.8 trillion, meanwhile in the end of 2007 rose to IDR 3.3 trillion. operating income also rose from IDR 1.4 trillion to IDR 2.2 trillion.

Return on equity (ROE) had reach 33,18% and return on assets (ROA) 5,7%. Net Interest Margin (NIM) were 8,5% rose from previous year that were 8,2%.

Tigor M Siahaan Country Business Manager Citi Markets & Bankng Indonesia add in last one year, Citi online online equipment payment had been choose by Pertamina. Semen Gresik also had use Citi Cash Management service such as virtual account and Citidirect online banking.

On Corporate Credit segment, Tigor said Citi Indonesia had gave USD 15 million loan facility to PT Pancaprima Ekabrothers to increase production capacity and set up new plant in Boyolali, Central Java.

Meanwhile, Sumitomo Mitsui Indonesia Bank net profit down nearly 41%, from IDR 223 billion to IDR 158 billion. Profit decrease caused by decline of net interest income and operating income.

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