Citibank, Lippo Bank tie up

Citibank, Lippo Bank tie up

JAKARTA (JP): Citibank and Lippo Bank signed an agreement here
on Thursday to form an alliance in corporate banking, a deal
allowing Citibank to utilize Lippo Bank's network as the delivery
channel for its corporate banking products.

Citibank corporate customers would benefit from the
partnership by having access to Lippo Bank's branch network
across Indonesia to perform banking transactions such as fund
transfer, fund collection and encashment of banker's checks,
according to a joint press statement issued by the two banks.

Through the partnership, Lippo Bank would be able to optimize
its information technology facilities across the whole network,
and cultivate product knowledge sharing with Citibank, the
statement said. (hen)