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Citigroup opens outlet in Binhai New Area
enorth.com.cn   2007-01-30 13:42

 

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"Continuing its expansion across key cities in China, Citibank announced the opening of a new consumer outlet in Tianjin, China¨s northern financial hub on Thursday, January 25. With the new branch opening, Citibank now has 15 outlets in China."


(Enorth.com.cn)Continuing its expansion across key cities in China, Citibank announced the opening of a new consumer outlet in Tianjin, China’s northern financial hub on Thursday, January 25. With the new branch opening, Citibank now has 15 outlets in China.

Director of the administrative committee of the Binhai New Area Pi Qiansheng, general manager of Citibank's China financial service business Li Yawen and chief officer of Citibank’s China individual banking business attended the opening ceremony of the new outlet in Tianjin’s Binhai New Area where it is located. Currently, four foreign banks namely HSBC, Bank of Tokyo-Mitsubishi UFJ, Shinhan Bank, and Citibank have had outlets in the Binhai New Area.

This is the second sub-branch of Citibank in Tianjin. It is a full service outlet that will provide foreign currency and yuan products and services as permitted by current regulations. Services offered at the new outlet include CitiGold, designed to provide world-class wealth management services. Other service offerings include Citi-RemEx, which allows customers to transfer funds between accounts in Citibank’s Chinese mainland and Citibank Taiwan or Hong Kong within three hours; and Citibank Global Transfer, a platform that enables customers to transfer money instantly between accounts in Citibank across countries. The outlet in Binhai has many experienced team-based relationship managers who will offer the clients world-class personalized financial products and services, said Li.

Citibank opened an outlet in Beijing on Wednesday and will open one in Shenzhen on Friday. Citibank’s consumer network in Chinese mainland will comprise 16 outlets, located in Shanghai (6), Beijing (4), Tianjin (2), Chengdu (1), Guangzhou (1) and Shenzhen (2). With its China’s headquarter in Shanghai, Citibank has six branches in Beijing, Shanghai, Tianjin, Chengdu, Guangzhou and Shenzhen and more than 3,000 employees in China. Citigroup has also been granted approval to open a new branch in Hangzhou, which will be opened early in 2007, pending the completion of the company's local incorporation in China.

US banking giant Citigroup provides financial service to over 200 million clients in more than 100 countries. Citigroup, which posted US$131.05 billion in revenue, was ranked 14th on the list in Forbes 2006. Citigroup first established an office in China in 1902 in Shanghai. Citigroup currently owns 20 percent stake in Guangdong Development Bank and 4.2 percent of Shanghai Pudong Development Bank.

 

 
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