Citi Indonesia (Citibank, N.A., Indonesia) has been named as Best International Bank in Indonesia from one of the leading financial publication in Asia, Finance Asia, during its annual Country Awards 2020. The awards recognizes the best banks, brokers, law firms across Asia and rating agencies in China. On its official website, Finance Asia emphasizes that not only is this year’s competition fierce, but it also took place during an unprecedented global backdrop due to the Covid-19 situation. The award also highlighted banks’ resilience and their ability to adapt to fast-changing conditions, which includes enabling most of their employees to successfully work from home.
Commenting on this achievement, Citi Indonesia CEO Batara Sianturi said, “Among the increasingly competitive and volatile market situation, we are really grateful to receive this award from Finance Asia magazine. This achievement shows our focus and commitment as a global bank, which offers innovative and integrated financial solutions in our line of businesses, namely Institutional Banking and Consumer Banking. Amid ongoing concerns around Covid-19 situation in Indonesia, we want our customers to know that we remain committed to serve them by prioritizing them, to navigate these challenging times together.”
In terms of financial performance, Citibank N.A., Indonesia has announced its first quarter 2020 result, where the bank was able to post a net income of IDR1 trillion. The bank also recorded a Return on Equity (ROE) of 22.5% and a Return on Assets (ROA) of 5.6% during the same period.
It continues to remain well capitalized and highly liquid, with a Capital Adequacy Ratio (CAR) at 26.3% and RIM at 62.4%. In addition, Citibank N.A., Indonesia’s gross and net NPL reported at 2.3% and 0.2%, respectively.
