Citibank gets award

Citibank gets award

JAKARTA (JP): Citibank was named best foreign commercial bank
in Indonesia by Finance Asia magazine in its 1999 Country
Achievement Awards.

"Citibank used the past year to embed itself for long-term
growth in the world's fourth largest country. It is now the bank
for nearly 70 percent of all multinational companies in
Indonesia," the magazine said.

Citibank was named best foreign commercial bank in eight
countries: Hong Kong, India, the Philippines, Taiwan, Thailand,
Singapore, Malaysia and Indonesia.

The awards were based on a poll of over 1,000 leading
companies operating in 11 countries in Asia, plus a panel
consisting of financial journalists.

Citibank currently has four branch offices in Jakarta and one
each in Surabaya and Bandung.

Citibank, which began operations in Indonesia in 1968, has 60
percent of its Indonesia business portfolio in retail banking,
while the remaining 40 percent is in corporate banking. (udi)