The acquisition, which comprises Citigroup’s unsecured and secured lending portfolios, wealth management and retail deposit business in the four Asean markets, has added almost 5,000 people to UOB’s team. The bank’s retail customer base in Asean is also now close to 8 million.
“UOB Indonesia welcomes Citigroup Indonesia’s consumer banking customers. The bank looks forward to continuing to engage its customers via an omni-channel approach, to sharpen its digital capabilities to acquire customers and provide for their banking and lifestyle needs, and to deliver customised interactions through tailored insights,” says UOB.
“Riding on the trend of rising affluence in the country, UOB Indonesia will also beef up its products and solutions, supported by UOB’s larger franchise and expanded partner ecosystem, to cater to evolving needs and preferences of its customers,” it adds.
Shares in UOB closed at $27.35 on Nov 17.
