Lippo Bank hires PWC

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)