Indonesia: Citibank Named "Best Credit Card" in Inaugural Banking Loyalty Awards
May 23, 2006
Jakarta – Citigroup Inc. (NYSE: C) - By winning the “Best Credit Card” award, Citibank has taken top honors in the Indonesia Banking Loyalty Awards (IBLA).
Organized by leading trade publication, Infobank magazine and the MarkPlus Marketing Consulting group, the IBLA was based on an independent survey conducted in Indonesia’s five major cities: Jakarta, Bandung, Medan, Surabaya and Semarang. Running from December 2005 to January 2006, 2,400 consumers were interviewed for the survey and asked questions on the following benchmark categories:
* Customer transaction (frequency of transactions and customer satisfaction ratings re transaction service)
* Customer relationship (customer service)
* Customer partnership (a measure of how willing customers are to use other products supplied by the bank)
* Customer ownership (how many customers recommended the card to others – friends, relatives, colleagues, etc.)
The four categories formed the overall Loyalty Index and Citibank’s aggregate score was much higher than the ratings recorded by competitors such as BCA Bank (2nd place), HSBC (3rd place) and BNI (4th place). Citibank scored especially well in the Customer Ownership section.
“We are delighted to win the award and it further reinforces Citibank’s leadership position in the Indonesian credit card market,” said Citibank Indonesia Country Business Manager, Shariq Mukhtar.
He added, “A big factor behind our success is the trust, or ’peace of mind’ value associated with the Citibank brand and our credit card products. This award recognizes our hard work in looking after our customers in key areas such as rewards, convenience and security.”
Citibank is the largest issuer of credit cards in Indonesia and today enjoys a 40% market share.
The IBLA accolade continues a strong awards performance by Citibank Indonesia in 2006. So far, the Bank has also won the Call Center 2006 award and the Infobank 2006 Service Quality award.
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