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Jakarta Post

Citibank Indonesia sells its consumer banking arm

The Jakarta Post Image
A Citibank branch office in Jakarta, Indonesia(Courtesy of Citibank NA Indonesia/-)
Eisya A. Eloksari
Jakarta   ●   Mon, April 19, 2021

Private lender Citibank Indonesia announced on Sunday that it would start the process of selling its consumer banking arm as part of parent company Citigroup’s global downsizing strategy.

Citibank Indonesia's consumer business includes credit cards and unsecured loans, as well as wealth management and digital banking services.

Citibank Indonesia CEO Batara Sianturi said it would carry out the exit process “prudently and systematically” in coordination with stakeholders, including the Financial Services Authority (OJK) and Bank Indonesia.

“During the selling process, our consumer banking operations, such as branch offices, call centers and digital services, will operate normally,” Batara said in a press statement on April 18.

Meanwhile, the bank will continue providing corporate and investment banking services th...

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