Citibank Indonesia is a universal bank that offers a wide range of retail and commercial banking services. Citi has been present in Indonesia since 1968 and is one of the largest foreign banks in the country by asset size. Citibank Indonesia operates 11 branches and 70+ ATMs; it has a customer payment network with more than 50,000 payment points and a corporate distribution network with 4,800 locations across 34 provinces. Citibank Indonesia is a fully owned subsidiary of Citibank NA.
Business structure
Citi Indonesia's business comprises two main groupings:
Institutional Clients Group (ICG) – The ICG has four offices located in Jakarta, Bandung, Surabaya and Medan. Its core business includes treasury, cash management, trade and security services, corporate and structured finance and investment management.
Global Consumer Banking – GCB operates 11 branch offices and 70+ ATMs in Indonesia. Its core business includes credit cards, wealth management, consumer lending, savings and deposits, investment product and treasury products.
History a timeline view
1918 – Citibank's precursor, the International Banking Corporation, sets up branches in Batavia (present-day Jakarta) and Surabaya.
June 14, 1968 – Citibank Indonesia established under the Ministry of Finance Decree No. D.15.6.1.4.23. It begins its operations in Hotel Indonesia with an initial staff of 15 employees.
1971 – Citi moves to Jalan M.H. Thamrin 55.
1976 – Citi obtains approval from Bank Indonesia (BI) to change its name from First National City Bank, Jakarta to Citibank, National Association (Citibank, N.A.), Jakarta Branch as stipulated in the BI Letter No.9/376/UPPB/PBD.
1980 – First bank to introduce electronic banking.
1986 – Citi relocates to the Landmark Building at Jalan Jenderal Sudirman Kav.1. It remains its headquarters until 2001.
First foreign bank to introduce ATMs.
1989 – First foreign bank to introduce credit cards to the Indonesian market.
December 1989 – Citi's Surabaya branch opens on Jalan Dr. Soetomo.
1993 – CitiPhone 24 hours a day, 7 days a week customer service program launched.
August 1994 – The Bandung branch opened on Jalan Ir. H. Juanda.
December 1998 – Citibank's flagship Corporate social responsibility program, Citibank Peka launched.
1999 – One Bill, a smart billing service platform launched.
March 2001 – Opening of the Medan branch on Jalan Imam Bonjol No.23.
2002 – CitiDirect Online Banking and Eazy Pay Plan (EPP) introduced.
November 2002 – Opening of the Semarang branch on Jalan Pahlawan No.5.
May 2004 – The Denpasar branch opened on Jalan Teuku Umar 208–210.
2005 – The first cashback credit card launched in Indonesia.
2009 – The cash office opened on Jalan Jenderal Sudirman Kav.1 in 1986 upgraded to a full branch.
2010 – Launched equity brokerage operations.
January 14, 2010 – First State Indoequity Peka Fund, a socially responsible equity fund, that enables investors to contribute 0.5% of their investment to a number of philanthropic funds, launched. Citi becomes its exclusive distributor.
July 2010 – PT Citigroup Securities Indonesia (CSI) awarded membership approval by the Indonesia Stock Exchange to operate as a member of the IDX.
2011 – Launches CitiMobile.
2021 – Announce to exit from Indonesia's market as well as 12 other markets globally
2022 – UOB Singapore acquires Citi's consumer business in Malaysia, Indonesia, Thailand, and Vietnam.
Products and services
Citibanking
Citibank Indonesia offers a wide range of transactional, deposit, loan, insurance, credit card and investment products. Its service offerings includes a variety of digital services like online banking, mobile banking, online payments and transfers, alerts and electronic statements and advices.
Deposit insurance protection under the Lembaga Penjamin Simpanan (the LPS or the Indonesia Deposit Insurance Corporation [IDIC]) is available for many of its transactional and deposit products for up to Rp 2 billion per depositor per bank. If, however, the interest rate and amount of deposit at Citibank exceed the maximum interest rate and amount covered by the IDIC, such a deposit will not be included in the deposit insurance program of the LPS.
