Business Services Industry
CITIBANK VIETNAM PLANS TO EXPAND INTO RETAIL BANKING.
AsiaPulse News, February, 2002
HANOI, Feb 7 Asia Pulse - US financial giant Citibank said on Monday that it plans to move beyond corporate banking, and towards a greater retail banking role in Vietnam, leveraging its global competitive strengths.
Citibank's country corporate officer John Beeman told Vietnam News Agency that his bank intends to "become more a local than a foreign bank," pursuing an 80 per cent local-customer base when the time comes.
With branches in Hanoi and HCM City, the bank at the moment only provides cash management, trade, corporate finance and treasury services.
"We are the largest foreign bank in Vietnam in terms of assets but still tiny in terms of market share compared to banks like Vietcombank," he said at the bank's tenth anniversary - and 100th in...
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