Citi To Open New Branch In China
The new branch will also offer CitiGold, a wealth management service
Citibank (China) has been granted approval by the China Banking Regulatory Commission (CBRC) to open a branch in the city of Chongqing. The Chongqing branch brings the total number of Citi's branches in China to nine, and the branch is scheduled to open in the second half of 2009.
Reportedly, the new branch will offer product and services tailored to address its diverse customer base, including multinational corporations, top-tier local corporations, financial institutions, small and medium enterprises, and retail customers. Its consumer banking business will focus on the provision of general banking services. In addition, the branch will also feature CitiGold, a wealth management service.
Andrew Au, CEO of Citi China, said: The opening of our Chongqing branch will be a significant development in our plan to enhance our presence in the Western region of China.
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