New CitiBusiness Offering to Meet Growing Needs of Indonesia’s SMEs

Jakarta – Citibank’s new CitiBusiness offering provides specialized banking services and features for businesses in Indonesia’s fast growing Small and Medium Enterprises (SME) sector.

Meliana Sutikno, vice president, Global Consumer Group Retail Banking Group Head, Citibank N.A. said: "With CitiBusiness, small and medium enterprises can now enjoy a full range of banking services that were once only available to large enterprises.

“This special service from CitiBusiness was created to help SME owners develop their businesses faster and more efficiently.”

The benefits include access to a Domestic Network Service (DNS) organized by Citibank in cooperation with other local banks. This arrangement allows Citibank customers to make deposits with the banks in the network. Other features include the collection of Letters of Credit, and in the near future, a check pick-up service.

The launch of CitiBusiness was marked with the signing of a Memorandum of Understanding (MoU) between Citibank and APKOMINDO (the Computer Association of Indonesia). APKOMINDO is the first organization to sign up for the service and Ir. Henky Tjokroadhiguno, Head, APKOMINDO was at the launch to show his support.

Mr. Tjokroadhiguno said: “CitiBusiness enables us to conduct all our business transactions with just one bank. CitiBusiness also provides easy access for SME-relevant banking services, which will absolutely help us expand our businesses.”

Apart from the benefits and services provided, CitiBusiness Relationship Managers will offer help and financial planning advice to CitiBusiness customers.

In addition to Indonesia, CitiBusiness is also available in India, Hong Kong, Singapore, Malaysia and Korea.