Relevant reports on "Citi Bank withdrawn from the Chinese market", Citibank (China) Co., Ltd. responded that the content of the report exaggerated its words is not true.
Citi Bank issued a statement on its official WeChat public account "Citi Commercial Bank" on Tuesday (November 7) to make the above clarification.
Statement stated that Citi has made strategic adjustments to personal banking business globally, including the gradual closure of personal banking business in Mainland China.The adjustment does not involve corporate and institutional customer business, and Citi will continue to strengthen the business and institutional customer business in Mainland China.
The statement also reviewed the history of Citibank in China, including entering China in 1902, and in 2007, the establishment of a local legal entity Citi Bank (China) Co., Ltd.
The statement also said that Citi currently has about 7,500 employees in China, distributed in 12 cities.The bank currently serves about 70%of Fortune 500 companies in China, more than 300 local leading large -scale companies and many emerging medium -sized enterprises.Citigroup also has a company that provides financial information services.
Citi Group issued a statement last month that it has agreed to sell personal bank wealth management business in China to HSBC. The business includes accounts, deposits and related wealth management products held by individual customers.The total amount of deposits and investment management involved in the transaction is approximately US $ 3.6 billion (S $ 4.88 billion), which is expected to be completed in the first half of 2024.
