Vikram Pandit, Citigroup CEO, Opens Six New Full-Service Branches in Hong Kong

Feb 03, 2010, 07:50 ET from Citi

HONG KONG, Feb. 3 /PRNewswire-Asia/ -- Mr. Vikram Pandit, Chief Executive Officer of Citigroup, today officiated the opening of six full-service retail branches in Hong Kong, including one brand new branch located at Cameron Road in Tsim Sha Tsui. The other five branches, which previously only offered personal lending services, are now upgraded to offer full-banking services and are located in North Point, Tuen Mun, Sha Tin, Tai Po and Kwai Fong. All these six locations now offer a full range of retail banking, personal lending and wealth management services.

Today's ceremony increases Citibank's retail network in Hong Kong to 32 branches. It also coincided with the announcement of the extension of operating hours for all Citibank branches in the territory to 7:00pm (Note 1).

Speaking at the Cameron Road branch opening, Mr. Pandit said, "Hong Kong is an important market for Citigroup globally and we are proud of our more than 108 year history in the territory. We remain fully committed to the local market and will continue to grow our presence and make it easier and more convenient for our customers to access our world-class suite of retail and wealth management products and services."

Mr. Weber Lo, Chief Executive Officer and Country Business Manager of Citibank Global Consumer Group Hong Kong, said, "In 2010, we will strengthen our value proposition and service offerings for our well-established wealth management and credit card businesses, maximize the value of our branch network, continue innovating our products and services by investing into our technology platforms."

From February 2010, Citibank Hong Kong will also launch a range of new services and products designed to help clients grow their wealth. These include an innovative deposit product called Step-Up Interest Account and permanent wavier of monthly custodian service charge (for both HK and US securities) and deposit of securities fee.

Mr. Lo concluded, "In Citibank, we live the 'Client First' service philosophy to drive greatest client satisfaction in all that we do. All these new initiatives of network expansion, service enhancement and product innovation are significant steps forward in delivering an exceptional and industry-leading service experience to our clients, whether they are affluent or emerging affluent."

In addition to 32 branches, Citibank's Hong Kong retail banking network includes over 60 Citibank ATMs and 2,000 Jetco ATMs in the territory.

Note 1: Except the Causeway Bay Branch and Kowloon Tong MTR Branch, which operate different opening hours. Teller service is not available after 5:00pm.

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Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Additional information may be found at or

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    Notes to Editors:

    The six full-service branches are located at:

    1. TST Cameron Branch:
       26-28 Cameron Road, G/F Cambridge House, Tsim Sha Tsui
    2. North Point Branch:
       Fortress Tower, 250 King's Road, North Point
    3. Sha Tin Lucky Plaza Branch:
       Shop 2B-2D, G/F, Lucky Plaza, 1-15 Wang Pok Street, Sha Tin
    4. Tai Po Central Plaza Branch:
       Shop B1, G/F Central Plaza, 51-59 Kwong Fuk Road
    5. Tuen Mun Yan Ching Branch:
       Shop 8, G/F Tuen Mun Center, 7-35 Yan Ching Street
    6. Kwai Fong Branch:
       Shop 39-42, G/F, Ho Chuck Center, 2-10 Kwai Yi Road, Kwai Fong


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