(7 April 2010 – Asia) Citibank Indonesia has announced expansion plans in the fast growing region, as it opens a new branch in Tanah Abang, widening the bank’s Asian offerings and competing head on with ANZ in the market.The bank said in a statement that the latest expansion brings the bank’s coverage in the area to 21 branch offices, 71 loan centres, and 105 ATMs, covering six major Indonesian cities including Jakarta, Surabaya, Bandung, Medan, Semarang, and Denpasar.
Citibank has also said it is committed to open a total of five new branch offices in Jakarta this year alone.
Jonathan Larsen, head of Consumer Banking and Global Cards, Citi Asia Pacific said that with the recovery in the macroeconomic environment and the return of more buoyant consumer sentiment, Citi sees broad-based opportunities to further grow its consumer banking franchise to meet the needs of its customers.
Indonesia is a key market for Citibank and the continued investments here demonstrates the bank’s commitment to Indonesian residents and businesses. Particularly, for the important small-and-medium business segment in Indonesia, Citi wants to partner them as they take advantage of the many opportunities that arise with economic growth, added Mr Larsen.