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)