Citi set its first footprint into Vietnam before 1975, and then started up a representative office in Hanoi in 1993. A year later, Citi became the first U.S financial institution licensed for branch opening and full branch establishment in Hanoi. In 1998, Citi opened the second branch in Ho Chi Minh City.
The bank offers a wide array of banking and financial services including corporate and investment banking, treasury and trade solution services, commercial banking, consumer banking, securities and transaction services.
Institutional Clients Group
In Vietnam, Citi has expanded its leading role in the institutional businesses. Serving as a trusted financial partner to the country's top corporations and state-owned organizations, Citi has been driving the largest and most successful capital market transactions in Vietnam.
Citi provides a comprehensive treasury and trade solution services to clients to address corporate treasury requirements including Receivables, Payables, Liquidity and Investment management. Our transaction services cover diversified solutions for not only cash management transactions but also trade services as well as trade finance. Being recognized as the market leader in Vietnam, transaction services are our unique strength and always our key focus.
Citi persists in affirming its industry leader in terms of technology by deepening its reform and innovation. The bank introduced in Vietnam two groundbreaking banking platforms, namely CitiDirect BE and Citi ® Supplier Finance. The bank has consistently worked with clients to move them to the CitiDirect platform across desktop, mobile and tablet.
Citi Vietnam has kept delivering the best-in-class services to the market, including investment administration, portfolio and fund services, trust and custody and investment and financing solutions.
Citi helps the clients meet the challenges of issuing, managing and distributing financial products and services in today's complex and competitive marketplace. We maintain our top position as the first choice of many institutional investors and issuers in Vietnam, the market leader in introducing new and innovative products and solutions and the pioneer in driving market developments.
Global Consumer Banking
Citi established the consumer bank in Vietnam in 2009 and the consumer bank has been developing its momentum with a growing market share in key businesses of credit cards, personal loans, cash advance and insurance. With introduction of a suite of Citibank PremierMiles World Mastercard, Citibank Cash back Visa Platinum card, and Ready Credit, the bank's credit card customer portfolio has increased substantially, making it the major premium credit card issuer in the country. The bank has also added a new line of credit card the Citi Rewards card aiming at young professionals. The bank emphasizes a focus on flexibility and convenience of credit management for the customers by offering cash advance service at ATMs, or unsecured loans with competitive interest rates.
Citi invested further in supporting its digital transformation for customers in Vietnam. The bank pushed forward with a number of digital services aimed at improving the digital experiences for retail clients for the Vietnamese market. Citi is a leading financial institution in using biometrics technology in Vietnam to enhance experience and security for its consumers. We introduced Touch ID, a technology that uses finger print to verify customers using Mobile Banking on the smart phone. Citi also introduced Snap Shot feature on Mobile Banking, provides customers the quick view brief summary of all their accounts with Citi without having to logon. We are also exceptionally proud to be the first bank to introduce Voice Biometrics technology in Vietnam.
With all the digital capabilities Citi has available in Vietnam, one out of every five new credit card accounts came from digital, 97 percent of customers have opted for e-Statements, and more than half of Citi's customers are using Digital Banking services actively.
Citi Commercial Bank
In 2014, Citi ramped-up the Citi Commercial Bank (CCB) business in Vietnam. Commercial bank clients typically have sales ranging between US$10million to US$500 million, which value Citi's global proposition and utilize Citi's robust product suite.
Citi Commercial Bank offers the full suite of financial products required by corporations, including trade services and finance, working capital financing, cash management services and foreign exchange. The commercial bank business has grown strongly to support our CCB network countries. With the continued investment into the country and increasing digitization of the economy, the commercial bank business will continue to grow its client base, assets and deposits significantly over the next few years.
Our approach to citizenship is based on our commitment to responsible finance—how we define business conduct that is transparent, prudent and dependable. Through our citizenship efforts, we aim to ensure that our actions are in the best interests of our clients, are designed to create economic value, and at the same time are systemically responsible. Citibank Vietnam's citizenship priorities are microfinance, financial inclusion and employee volunteerism.
As part of our commitment, we seek to serve the community by being an efficient and responsible bank through microfinance programs. Microfinance programs in Vietnam have helped the poor improve their living standards and contribute to Vietnam's economic development. As its grant sponsor, Citi Foundation annually holds a Citi Microentrepreurship Awards (CMA) recognizing the contributions of hundreds of microentrepreneurs, credit officers and microfinance institutions in eradicating hunger and reducing poverty in Vietnam. With 11 years implementing in Vietnam, the initiative has gained significant achievements and received an increasing attention from the Vietnamese government, the State Bank of Vietnam as well as other organizations.
- Financial Inclusion
A primary focus of Citi's corporate citizenship activities in Vietnam is financial inclusion. At Citi, we believe we have a responsibility towards helping people understand how to manage their financial resources as well as to be bankable as a natural extension of the work we do as a global financial institution.
Over the last few years, Citi Vietnam has committed to its comprehensive financial inclusion programs. "Urban Young Migrants' Economic Empowerment Program" is a project to improve the employability skills and financial literacy of vulnerable migrant youth, in Can Tho and Hai Phong in collaboration with Save The Children. The "Sustainable livelihoods for Urban Youth" project with the M&D aims at providing vocational training course to help 500 youth in Hanoi's suburban become more employable and accessible to local career opportunities. In 2017, we also support "Entrepreneurship skills for women entrepreneurs in the rural areas of 05 provinces in Vietnam" project run by TYM to provide training classes on entrepreneurship skills for selected women in order to ensure sustainable growth of their businesses and create more jobs for people in their communities.
- Employee Volunteerism
Every year, Citi employees in Vietnam are encouraged to go out on a single day and do their best for community. In the last few years, we opened contest for what would employees like to do in Global Community Day in both Hanoi and Ho Chi Minh City. Several teams in both Hanoi and Ho Chi Minh put forward several great ideas and actively participated in the events, making every Citi Vietnam's global community day another highlight of our long standing passion for contributing to the communities in which we live and serve.
Government of Vietnam
Flag of Honor 2013, 2014
The State Bank of Vietnam
Outstanding Organization 2013, 2014, 2015
Flag of Honor 2013, 2014
Golden Dragon Award
Best Service Bank in Vietnam from 2003 to 2017
FinanceAsiaBest Foreign Investment Bank 2015 and 2016
Best Foreign Commercial Bank 2013
The AssetAAA Awards
Best Loan Adviser 2017
Best Subcustodian 2017
Best Bank 2012, 2013 and 2015
Best Corporate and Institutional Bank 2015 and 2016
Best Bank for E-Solutions 2014
Best Cash Management Solution 2014
Global FinanceBest Digital Bank for Consumer Banking Award 2015 and 2016
Best Digital Bank for Corporate/Institutional Banking 2016, 2017
Asia MoneyBest Digital Bank 2017
American Chamber of Commerce
CSR Recognition Awards 2015, 2016, 2017