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Strategies & Market Trends : Asia Forum
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To: Mark Nelson who wrote (840)1/15/1998 4:16:00 AM
From: tom  Read Replies (3) of 9980
 
Thanks for the info.

What worries me is that Citibank has a 50% market share in the credit card market in Indonesia with 1,000,000 cards outstanding. The default rate on credit cards is extremely high as APRs are 70%+. They will have to take a 75-100% write-off on these credit card receivables. Also Citibank are Indonesia for the long term. They regard it as their most important market in Asia and so are willing to bear losses in the short term. Citibank have a huge credit card business accross Asia and I imagine that the picture is similar in all of them

This is a great opportunity for them to buy into local banks at knock down prices (eg FBCB in Thailand) but they will also have to pay a price in terms of poor asset quality.

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