Jakarta. Citibank, N.A., Indonesia (Citi Indonesia) sheds light on its business strategy following the closure of consumer banking operations in Indonesia on Nov. 18, 2023. Currently, the bank is shifting its focus towards institutional banking, targeting multinational corporate clients in the country.

Despite ceasing direct customer service, Puni Ayu Anjungsari, Director of Corporate Affairs at Citi Indonesia, said the company remains committed to serving clients through its existing business lines.

At present, Citi Indonesia is concentrating on institutional banking, encompassing investment banking, corporate banking, commercial banking, trading and markets, transactional banking, and security services.

"We are undergoing a significant transformation at Citigroup. Moving forward, we will focus, and currently are focused on our institutional clients through our various business segments," Puni told Beritasatu.com, a sister publication of the Jakarta Globe, during an interview at Citibank Tower in Jakarta on Tuesday.

Citigroup views the institutional business as having immense potential in Indonesia. Puni said Indonesia holds a crucial position for the sustained success of the New York-based banking giant.

"In Indonesia, we see numerous companies and institutions ready to go international and even continue supporting the nation's economy through various business initiatives," she said.

"We will continue to serve our clients, both foreign and local companies, with various digital and global solutions to support their efforts to expand domestically and internationally," she added.

Citi Indonesia remains optimistic about its business growth, aligning with Citigroup's extensive presence in 160 countries worldwide. Puni claims Citi is the foreign bank with the broadest reach in Indonesia.

"We currently have no concrete plans for expansion, but what we can say is that Indonesia is a crucial market for Citigroup," she said after a media visit meeting with B-Universe to discuss the transformation and business projections of both companies. 

The meeting also explored potential collaborations between Citi and B-Universe,  the holding company of the Jakarta Globe, in the future.

"We discovered numerous collaboration potentials with B-Universe. So, we hope for more concrete cooperation between B-Universe and Citi in the future," said Puni.

The meeting was attended by three representatives from Citi Indonesia, including Director of Corporate Affairs Puni Ayu Anjungsari, Chief Business Execution Tandy Cahyadi, and External Communications, Global Communications Enterprise Services & Public Affairs Loecia Nhadilah Sannie. From B-Universe, attendees included Investor Daily's Editor-in-Chief Djaka Susila, Commercial Director Melly Marliani, GM Sales Adhyatma Andana Warih, Sales Manager Agnes, and Sales Group Head.

Add as a preferred source on Google +