Citibank lures more clients

Citibank lures more clients

JAKARTA (JP): Citibank relaunched its unsecured credit card to
take advantage of the opportunities presented by the improving
economy, M Triwardhany, the company's vice president for business
card products, said on Wednesday.

"We believe that the improving economy in the near future will
increase Indonesians' purchasing power," she said during a media
conference.

She added that with the unsecured credit card, the public
would receive the service and still have full control over their
savings account.

"We are optimistic about the economic improvement and set a
target of 250,000 new credit card holders next year," she said,
adding that the company was emphasizing competitive services for
its credit card in order to attract more customers.

During the economic crisis, the banking sector, including
credit cards, experienced stagnation, and Citibank, which has 40
percent of the credit card market, was forced to adjust its
credit card policies.

Citibank, with nine branch offices and 55 ATM machines in the
country, has about 880,000 Visa and MasterCard customers with
total estimated transactions at US$500 million annually. (06)