Wuxi, China Citibank (China) Co., Ltd. ("Citi") today opened a branch in the city of Wuxi. Citi now has branches in 13 cities around China, three of which have been opened during 2011. The Wuxi branch will provide a wide spectrum of banking services to both institutional clients and consumers. A ceremony was held to mark the milestone, attended by Andrew Au, Chief Executive Officer, Citi China, and Simon Chow, Country Business Manager, Citibank China, as well as local government and regulatory representatives.
Andrew Au said, "Citi has a clear vision for our business in China, and one element of that vision is expanding our network, so I am delighted we have arrived in Wuxi, a city with a rich culture and a vibrant economy. We are putting a strong team on the ground in Wuxi and expect that our new branch will play an active role in supporting retail and institutional clients in and around Wuxi, as well as contributing to the local economy and community. "
The Wuxi branch offers a range of Renminbi (RMB) and foreign-currency products and services to multinational and local companies, Chinese residents and foreign nationals. Citi has a large and diverse base of institutional clients in China and has a demonstrated track record in helping Chinese companies achieve their strategic goals. Bankers at the branch will work closely with leading companies in Wuxi, including small and medium enterprises, large local companies and multinational companies. Corporate banking services offered include cash management, trade finance and services, loans and syndication, FX transactions, project finance and structured finance and other financial products.
The Wuxi branch also represents Citi's 45th consumer outlet in China. Like all other Citibank outlets in China, the new outlet offers both Citibanking and Citigold services.
Simon Chow said, "Citibank was the first financial institution to introduce the smart-banking concept in China, and we are excited to be bringing smart banking to the residents of Wuxi. This outlet gives Wuxi consumers a new and superior style of retail banking, and we look forward to serving our customers here with the best available banking and wealth management services."
Key features of the smart banking outlet include:
The Wuxi branch houses 16 corporate bankers and 34 retail banking professionals. It is located at No. 218, Zhongshan Road, Wuxi, Jiangsu Province, P. R. China.
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. 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, transaction services, and wealth management.
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Citi first established an office in China on May 15, 1902, in Shanghai. In April 2007, Citi was among the first international banks to locally incorporate in China. Citi's locally incorporated entity is known as Citibank (China) Co Ltd, which is wholly owned by Citibank N.A. Today Citi is a leading international bank in China, and has thirteen corporate bank branches — in Beijing, Shanghai, Guangzhou, Shenzhen, Tianjin, Chengdu, Hangzhou, Dalian, Chongqing, Guiyang, Nanjing, Changsha and Wuxi – and forty-five consumer bank outlets. With operations in more than 160 countries around the world, Citi is the most global of all international banks in China.