Banks in Indonesia spark race to win credit-card customers

Article Abstract:

Banks in Indonesia are vying to win the business of the 3 million or so residents who qualify for credit cards (of a total population of over 220 million people) by offering special incentives. The market leader is now Citibank, with competition from HSBC, PT Bank Internasional Indonesia, PT Bank Mandiri and even American Express. Citibank says it has 1.2 million cards in use in Indonesia, or about 40% of the estimated total of 2.8 million, but Citibank says that some 10 million people might be eligible for credit cards.

Bank Credit Cards, Services information, Services, Credit and debit card industry, Credit card industry

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Banks change tactics on Asia; foreign companies find cheaper ways to expand presence in region

Article Abstract:

Foreign banks doing business in the Asian region are trying novel tactics in expanding their presence. Citibank, wary of acquiring failed Indonesian banks, has decided to introduce over 40 automated teller machines in Jakarta, Indonesia, instead. The tactic, which cost the bank about $5 million, is minimal compared to over $500 million it would have spent on an acquisition. The move has been hailed by a rival foreign bank as a very wise move by Citibank.

General services, Investments, Asia, Bank investments, Citibank N.A.

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Investors stay bullish on Thai bank stocks amid lower growth, more competition

Article Abstract:

Investors are unlikely to dispose of their shares of Thai banks despite the moderated income prospects for these financial institutions. As the Thai government deregulates the financial sector, banks face more competition from foreign banks and local finance companies or other groups seeking new banking licenses. However, investors say their liquidity and low price earnings ratio still make Thai banks' stocks a worthwhile investment.

Evaluation, Thailand, Securities, Financial institutions, Deregulation, Bank stocks

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