Citi supports Japan earthquake victims

Raft of disaster relief measures to help the earthquake-stricken people of Japan

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Citi CEO Vikram Pandit announced a raft of disaster relief measures earlier this year to help the earthquake-stricken people of Japan. These included $2.4 million in combined aid from Citi and the Citi Foundation.

In addition, Citi's customers and employees were encouraged to donate directly via Citi's customized page on the American Red Cross Website.

"Our hearts go out to the people of Japan as they cope with one of the worst disasters in recorded history," said Pandit. "Citi has been doing business in Japan since 1902 and our commitment to the country and its people is unwavering."

Initiatives announced by Pandit to help Japan included:

  • The waiving of fees on wire transfers from the US to Japan for an agreed period. Penalties for early withdrawal of CD investment funds were also waived if these were used to send financial support to Japan.
  • Calls to Citi Card customer services were routed to escalation units with the power to assist individual customers with emergency cash or credit line increases.
  • Citi customers were able to redeem Citi ThankYou Points for a contribution to the American Red Cross Disaster Relief Fund.

Pandit also announced the bank's own establishment of a Disaster Relief Fund in aid of the Japanese Red Cross Society, with an initial contribution of $1.2 million from Citi's Asia Pacific businesses. The Citi Foundation also pledged an additional $1.2 million.

"In more than a century of work in Japan," said Pandit, "Citi has forged deep relationships with the Japanese people. Helping them in their hour of need is not just an obligation, it's a heartfelt gesture of gratitude and goodwill for our friends and partners in a country that means so much to us."