JAKARTA (Yosefardi) – Citibank Indonesia has launched new credit cards products after banned by central bank, Bank Indonesia, in 2011 as Malinda Dee, one manager for the bank’s Citigold, allegedly embezzled from three Citibank clients amounting Rp20 billion.
Citibank intends to make a come back on credit cards market share to more than 20% by 2015. The bank targets its credit cards transaction to grow by 18-20% per year, with monthly transaction of Rp2 trillion. Currently Citibank has one million credit cards holders, and targets to add 1,000 holders.
Indonesians love credits cards and it’s a growing business. In first nine months of this year, total credit card transactions grew 10.82% to 17.9 trillion.Last year, total credit card transactions reached Rp72.6 trillion, but non-performing payments jumped 48%.