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Philippines
Citigroup's history in the Philippines dates back to 1902 when the International Banking Corporation established a branch in Manila, followed by another branch opening in Cebu in 1904. Today, Citigroup is the largest foreign commercial bank in the Philippines in terms of customers, assets, revenues, employees and number of domestic branches. It consistently ranks among the top ten commercial banks in the country. Citigroup Philippines employs over 4,100 staff, 99% of whom are local residents. The Global Corporate and Investment Bank is a recognized leader in arranging financing and providing financial services for the sovereign and public utility sector, as well as top-tier corporates, multinationals and financial institutions. It offers innovative end-to-end cash management solutions, trade finance and services, securities custodianship, corporate finance, investment banking and advisory services and the most comprehensive and sophisticated treasury products-fixed income, foreign exchange and derivatives. With six full-service branches and a track record for innovation and customer service, the Global Consumer Group offers retail loans and deposits, personal investments, insurance, consumer branch services and lifestyle convenience products and financial services such as credit cards and the Citigold Wealth Management Banking. It is the single largest credit card issuer in the country. The Citigroup Private Bank is a significant business for the Philippine franchise offering portfolio and asset management services for the ultra-affluent in the country. The Philippines ranks as one of Citigroup Private Bank’s top five markets in Asia Pacific. To complement its commercial bank presence in the country, Citigroup has added a network of 36 branches through Citibank Savings, to better serve the financial needs of the country’s middle class, with a range of world-class banking products and services. Citicorp Financial Services & Insurance provides insurance services to bank and card customers. Another Citigroup affiliate, CitiFinancial, services the personal loan requirements of the broader masses. It has 15 branches distributed in key cities nationwide. Citigroup Business Process Solutions provides BPO, Call Center and other IT and IT-enabled services to various Citigroup consumer group operations around the region supporting 3 key domains: Citiphone Banking, Credit Operations and Transaction Services. In addition, three regional operations are located in the Philippines: Citigroup Business Services, the global financial and management reporting center and global payment services center supporting over 60 countries in Asia, Europe, Middle East and Africa; Citigroup Information Technology and Infrastructure Philippines; and a satellite office of the Asia Pacific Banking Institute. |
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