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Retail Asia26/03/2023

Citibank has been honored as “Bank of the Year” in the Asia Pacific at the 2022 International Financing Review Asia Awards. The award was based on a unanimous decision by the editors of IFR Asia, a leading regional capital markets magazine. The recognition from IFR Asia reaffirms the expertise and solution-driven approach of Citi’s capital […]

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Retail Asia28/11/2022

Switzerland has always been a magnet for the super-wealthy. In the last two years, more families and their wealth have moved to the country. Citigroup’s General Market Manager for Switzerland said who has been coming over and why. Having worked in several locations in Citigroup’s private banking over the past twenty years, Laurence Mandrile has kept a close […]

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Retail Asia29/08/2022

After failing to find buyers, Citi has decided to close its consumer and commercial banking businesses in Russia. Citi will shut down its Russian consumer and commercial banking businesses starting this quarter, it said in a statement Thursday. The closure will result in about $170 million in charges over the next 18 months and affect 2,300 out of […]

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Retail Asia21/10/2021

Binding bids for Citigroup’s retail assets across Asia are due within the coming week with interest drawn from both fellow global banks and local players. Binding bids for Indonesia, the Philippines, Taiwan, and Thailand are due on Friday, according to a «Bloomberg» report citing unnamed sources, with offers for India due next week. Deliberations are ongoing […]

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Retail Asia15/09/2021

Citigroup has reportedly hired the former Southeast Asia head of investment banking from Goldman Sachs. Harry Naysmith will join Citi as its vice chairman of banking, capital markets and advisory for Southeast Asia. Naismith joined Goldman Sachs in 2013, last as its Southeast Asia head of investment banking. Previously, he also spent five years with […]

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Retail Asia03/05/2021

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Citigroup CEO Jane Fraser’s first-quarter debut featured strong earnings worldwide and in Asia where the American lender is eyeing growth opportunities, particularly from private wealth in the region. Citi’s consumer banking unit in Asia saw $5.2 billion in net new money in the first quarter of 2021 – a 13 percent year-on-year increase – according […]

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Retail Asia21/04/2021

Two of Singapore’s «big three» lenders are said to be interested in acquiring parts of Citi’s consumer business, which is downsizing worldwide. DBS Group, OCBC, Mitsubishi UFJ Financial Group (MUFG) and Standard Chartered intend to bid parts of the bank’s consumer banking portfolios and brances in Asia, citing sources with direct knowledge of the matter. The […]

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Retail Asia19/04/2021

America’s Citigroup will exit 13 international consumer banking markets, including Vietnam, to shift its focus to four wealth centers. The move is part of the bank’s strategic decision to direct investments and resources to businesses with the greatest scale and growth potential, it stated, adding its main markets will include Singapore, Hong Kong, the United […]

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Retail Asia09/04/2021

Citi appoints a senior corporate banker for China, amid growing expansion in the mainland market. Luke Lu has been named head of corporates coverage for China, reporting to Citibank China CEO Christine Lam and APAC head of corporate banking Kaleem Rizvi. A spokesperson for the bank confirmed the new appointment. Lu has 20 years of banking experience and was […]

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Retail Asia03/06/2020

Will McLane was named Asia Pacific vice chairman of technology at Citi, according to an internal memo, in addition to his existing role as vice chairman of the global financial institution’s group (FIG). We have asked McLane to assist the APAC technology team in covering clients for unique stations to help scale BCMA’s (banking, capital […]

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Retail Asia07/02/2020

As part of its network reconfiguration, Citi is shuttering its iconic branch at McDonald House on 28 February. For its replacement, the U.S. bank said it will soon launch a whole new and exciting retail banking branch experience after its MacDonald House lease expires at the end of this month. Details on the new branch […]

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Retail Asia05/02/2020

Citi’s head of retail banking in the city-state leaves after more than two decades with the American lender. Charles Wong exits the bank after nearly five years in his last role as Singapore head of retail banking. A spokesperson for the bank confirmed his exit. In 2015, Wong was appointed to his current role to […]

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Retail Asia21/01/2020

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Citi Private Bank hires a former managing director from UBS to lead its South Asia FX advisory team based in Singapore. Christian Schuwey joins the bank, effective immediately, with responsibilities to drive «significant growth» in Australia, Brunei, India, Indonesia, Malaysia, New Zealand, Philippines, Singapore, and Thailand, according to a statement, naming the South Asia region […]

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Retail Asia26/11/2019

Citibank NA Indonesia posted a net profit of 2.4 trillion Rupiah ($170.51 million) in the first nine months of the year, a 70 percent jump from the same period last year despite lower loan disbursements. The increase in profit was driven by increases in the bank’s non-interest income and net interest income, as well as […]

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Retail Asia03/05/2019

Citibank Singapore announced that it is the first bank in Singapore to introduce instant in-principle approval for debt consolidation plans. Customers applying online for Citibank Singapore’s debt consolidation plan will receive an immediate indication of their application status, as the bank is the first in Singapore to offer eligible customers instant in-principle approval. «The ability […]

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Retail Asia09/04/2019

New entrants and increased competition brought about by challenger banks could result in revenue losses of up to 30 percent among legacy banks over the next 10 years. While digitalization can lower costs for incumbent banks by 30 to 50 percent, new competition and greater transparency in the banking market, prompted by the emergence of […]

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Retail Asia03/04/2018

Citi today announced its first API partnership in Hong Kong through the launch of Citi Pay with Points on HKTVmall, the 24-hour online shopping mall operated by Hong Kong Television Network Limited. The new service enables cardholders of Citi points-bearing credit cards who shop on HKTVmall.com or the HKTVmall mobile app to offset purchases upon […]

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Retail Asia14/09/2017

Citi has beta launched a banking chatbot on Facebook Messenger that is capable of providing customer account information to users. Dubbed Citi Bot, the chatbot will make its debut in the Singapore market and be progressively introduced to the wider Asia Pacific region in the coming months. The chatbot’s launch is a world-first for Citi in […]

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Retail Asia03/02/2017

Citi has launched MobilePASS, an app-based soft token that enables corporate banking clients to use their own smartphones to generate dynamic passcodes to log into Citi’s institutional e-banking platforms. In Asia, MobilePASS is now available in Bangladesh, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand and Vietnam. It is scheduled to be […]

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Retail Asia08/12/2016

Lender Citibank Indonesia expects to book single-digit loan growth next year although it believes lending will pick up speed in the second half of 2017, the company’s top management said on Wednesday. “For Citibank, we expect single-digit [lending growth]. It is better to be a bit conservative because we expect that lending will start to […]

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