Citigroup Inc. on Oct 13 opened itsfirst retail banking branch in Vietnam, becoming the first USfinancial institution with retail operations in the country.
The new branch, located in Ho Chi Minh City, will provide depositservices to individual clients and remittance services to those withrelatives studying and living abroad, especially in the US.
Available at the branch are also counter teller services and two24-hour ATMs, which bring to five the number of Citibank ATMs in thecity. By the end of the year, a further eight ATMs will be deployed.
Citibank becomes the fourth foreign bank with retail operations inVietnam after HSBC Holdings PLC, Australia and New Zealand BankingGroup Ltd. (ANZ) and Standard Chartered PLC.
"We believe in Vietnam's future and are committed to continuing toinvest here and actively participate in Vietnam's economic growth,"Shirish Apte, Chief Executive of Citi Asia Pacific, said in a statement.
Meanwhile, Brett Krause, Citibank country officer for Vietnam, said:“With our first retail outlet, we are also introducing Citis wealthmanagement offering – Citigold – to Vietnamese consumers.”
Citigroup started operations in Vietnam in 1993. The new branch will beCitigroup's third in the country, after wholesale branches in Hanoi andHo Chi Minh City, the bank said./.
The new branch, located in Ho Chi Minh City, will provide depositservices to individual clients and remittance services to those withrelatives studying and living abroad, especially in the US.
Available at the branch are also counter teller services and two24-hour ATMs, which bring to five the number of Citibank ATMs in thecity. By the end of the year, a further eight ATMs will be deployed.
Citibank becomes the fourth foreign bank with retail operations inVietnam after HSBC Holdings PLC, Australia and New Zealand BankingGroup Ltd. (ANZ) and Standard Chartered PLC.
"We believe in Vietnam's future and are committed to continuing toinvest here and actively participate in Vietnam's economic growth,"Shirish Apte, Chief Executive of Citi Asia Pacific, said in a statement.
Meanwhile, Brett Krause, Citibank country officer for Vietnam, said:“With our first retail outlet, we are also introducing Citis wealthmanagement offering – Citigold – to Vietnamese consumers.”
Citigroup started operations in Vietnam in 1993. The new branch will beCitigroup's third in the country, after wholesale branches in Hanoi andHo Chi Minh City, the bank said./.
