Citi Indonesia Plans to Transfer Credit Card Customers to UOB Indonesia
Jakarta (ANTARA) – Citibank, N.A., Indonesia (Citi Indonesia) stated that the process of transferring credit card customers to UOB Indonesia will take place on November 18, 2023.
“The process of transferring credit card customers to UOB will be carried out on November 18,” said Citi Indonesia President Director Batara Sianturi to reporters at the “Economic Outlook & Financial Performance Presentation of Citi Indonesia Quarter III-2023” press conference in Jakarta on Monday.
He conveyed that this is related to the development of the consumer banking business sales from Citi Indonesia to UOB Indonesia.
Batara explained that Citi Indonesia had recorded a significant 92 percent growth in new credit card customer acquisitions through digital channels as of August 2023 compared to the same period last year.
During the same period, he said, sales through digital channels were dominated by installment payment features, which increased by 21 percent.
“So, this has become a digital channel that supports the growth of our credit card business and strengthens our mission to increase digital inclusion,” he said.
Citi Indonesia’s credit card business line has also reached more than 1 million cards with retail sales reaching $1.3 billion in September 2023, an increase of 17 percent.
Batara said that the positively growing consumer banking business will then be acquired by UOB Indonesia.
“We have also communicated this to the customers so that they are ready for the card over from the transfer of consumer banking to UOB,” he said.
