Five Subsidiaries Of Tower Facilities From The Djarum Group Belonging To The Konglomerat Hartono Brothers Won A Credit Facility Of IDR 650 Billion From Citi Indonesia

Photo: Doc. Antara/Citi Indonesia

JAKARTA - Citibank Indonesia signed a credit facility holding agreement worth Rp. 650 billion with PT Professional Telekomunikasi Indonesia (Protelindo), PT Solusi Tunas Pratama Tbk, PT Iforte Solusi Infotek, PT BIT Teknologi Nusantara, and PT Komet Infra Nusantara. The five companies are a subsidiary of PT Sarana Menara Nusantara Tbk (TOWR) part of the Djarum Group belonging to the conglomerate Hartono brothers.

Citi Indonesia Batara Sianturi CEO said Indonesia remains the main market for Citi. "Here, we have a clear vision to become a well-known banking partner for institutions that have cross-regional banking needs and are at the forefront of wealth management," he said in an official statement, Wednesday, September 7.

On the other hand, Corporate Secretary of Sarana Menara Monalisa Irawan revealed, transactions between Citi Indonesia and the company's subsidiary are not transactions of conflict of interest and not material transactions. The loan facilities provided for TOWR will be intended for the company's working capital with a period of 12 months.

It was recorded that until the first half of 2022, Citi's credit portfolio rose 9.8 percent year on year (yoy) to Rp43.7 trillion. The main contributor to credit portfolio growth comes from the institutional banking business line, especially in the manufacturing industry sector and financial intermediaries.

Citi's credit portfolio growth was supported by third party funds which grew by 11.1 percent yoy, so that the loan to deposit ratio (LDR) position was still long, or 64 percent. Citi Indonesia also recorded a gross decline in non-performing loans (NPL) from 3.61 percent to 2.86 percent.

Managing Director, Head of Corporate & Investment Banking Citi Indonesia Anthonamin said the achievement was driven by credit growth in the banking segment, capital markets and administration (BCMA) and commercial lines.

"Citi continues to provide end-to-end services and solutions to clients of local, multinational companies, financial institutions, and the public sector," he concluded.