Citigroup continues Asian expansion with new branch opening

10 November 2010

Citigroup has opened a new retail branch in Hong Kong as part of an ongoing expansion in Asia.

The new Mong Kok outlet is Citi’s largest retail branch in the territory and is the 43rd to be developed in the area, which means almost double the number are now open in the region than during the third quarter of 2009.

More additional branches are expected to be opened in the coming months while a further 150 ATMs are to be set up.

Citigroup stated that the Mong Kok outlet will showcase some of the latest technological services the bank is now offering to customers including touch screens, free Wi-Fi and video conferencing facilities.

Vikram Pandit, Citi’s chief executive officer (CEO), said: “I am very excited to see the rapid expansion of our franchise in Hong Kong through this innovative Smart Banking branch that underlines our continued investment in technology to support our clients.

“This Mong Kok Branch is our biggest in Hong Kong, and one of the largest in the region. Our continuing investment in key markets such as Hong Kong underlines our commitment to invest across the Asia Pacific region to support the growth of our franchise."

Stephen Bird, CEO at Citi Asia Pacific, added that Hong Kong is at the centre of a “golden decade” of expansion for the bank in the region.

By Jim Ottewill

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