Lippo Bank hires PWC

JAKARTA (JP): Publicly listed Lippo Bank said on Tuesday it had appointed Price Waterhouse Coopers, an international consulting firm, to help refine the bank's comprehensive five- year strategic business plan.

Company president Eddy Sindoro said the bank considered the strategy to be extremely important in the severe banking turmoil afflicting the country because only well-prepared banks will be able to survive.

"The comprehensive strategic long-term plans which we are improving at the moment will strengthen Lippo Bank's position in the line of healthy banks in Indonesia," Eddy said.

He added that the plan would be used as the basis for the bank's directions and strategies in increasing its efficiency and productivity, handling of problems loans, cost management and control and operational cost savings.

Lippo Bank currently operates 364 branch offices and 260 Automatic Teller Machines (ATMs) in 44 cities nationwide. (gis)