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JAKARTA - Citibank NA Indonesia (Citi Indonesia) posted a net profit of IDR 1.1 trillion in the third quarter of 2022. This record rose 31 percent year-on-year (yoy) compared to the same period in 2021.CEO Citi Indonesia Batara Sianturi said this increase was due to the lower cost of credit-disbursement losses at the line Institutional Banking. "At the same time, we also saw positive developments on business momentum and asset quality. We will continue to apply the precautionary principle in risk management to address risk factors that may arise," Batara said at a Citi Indonesia Performance Exposure press conference quoted by Antara, Thursday, November 10. On this occasion, he conveyed that the company's credit portfolio fell by 4.6 percent yoy in the third quarter of 2022, mainly from the Institutional Banking business line. Then, the company's total assets rose 8.3 percent (yoy) to Rp95.2 trillion in the third quarter of 2022, which this growth was supported by quality and third party (DPK) which grew by 10.2 percent (yoy).

Thus, he continued, the company was able to maintain a Loan to Deposit Ratio (LDR) ratio at 54 percent, with the company's capital adequacy level or Minimum Capital Provision Obligation Ratio (KPMM) of 28 percent. Furthermore, the company's Goross Non-Performing Loan (NPL) problem credit was relatively stable at 3.30 percent, and the achievement of the net NPL ratio was 0.31 percent, or 0.94 percent lower than the previous 0.94 percent in the same period last year. In addition, the Citi Commercial Bank line posted revenue growth of 25 percent (yoy) in the third quarter of 2022, which was contributed by cash management, foreign exchange value (varlas) and also credit. Meanwhile, from Retail Banking's business line, the company's digital investment transaction grew 38 percent (yoy) in the third quarter of 2022. In the same period, the digital loan portfolio increased by 115 percent, thus supporting businesswealth management growth and increasing digital inclusion in the midst of the COVID-19 pandemic.


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