For Immediate Release
Citigroup Inc. (NYSE: C)
November 8, 2010

Citibank Opens Flagship Mong Kok Branch

highlights

Largest Branch in Hong Kong serves retail and commercial customers

Hong Kong – Vikram Pandit, Chief Executive Officer of Citigroup, and the Citi Global Executive Committee today officiated at the grand opening of Citibank’s largest branch in Hong Kong. Situated in Mong Kok at the heart of the Kowloon peninsula, this multi-story location offers a full range of banking services, covering general banking, loan and mortgage, and credit card. The branch also houses banking centers for different segments, including Citigold, Citigold Private Client and Commercial Banking, all in one building that strategically serves the large population in Kowloon. With this new branch opening, Citibank now has 43 retail branches in the territory, with several new branches set to open in the coming months.

Mong Kok, as its Chinese name (phonetically Wong Kok) suggests, is probably the busiest district in Hong Kong and is reported to be the busiest commercial and residential area anywhere on the planet. The new Citibank Mong Kok Branch, with a total area of 23,000sq.ft (2,150sq.m) spanning four floors, will service the vast population who reside, work or commute to the district every day.

Customers can also enjoy a wide range of banking services through the Express Banking Center, located at the ground floor of the branch, that offers access to ATMs and general enquiry services, as well as applications for a myriad of products and services. This Express Banking Center, which is being introduced in the Citibank network in Hong Kong through this Mong Kok Branch, is open until 11:00pm on weekdays and Saturdays, and from noon till 9:00pm on Sundays. In addition, teller services in this Mong Kok Branch will be extended to 7:00pm on weekdays, adding flexibility to customers who require teller services after normal office hours.

Mr. Pandit said at the opening, “I am very excited to see the rapid expansion of our franchise in Hong Kong through this innovative Smart Banking branch that underlines our continued investment in technology to support our clients. This Mong Kok Branch is our biggest in Hong Kong, and one of the largest in the region. Our continuing investment in key markets such as Hong Kong underlines our commitment to invest across the Asia Pacific region to support the growth of our franchise."

The opening of this Mong Kok Branch is part of a retail expansion plan announced in early 2010 that will significantly increase Citibank’s presence in Hong Kong by enhancing distribution channels and service offerings. Citibank had 25 branches in the territory by the third quarter of 2009, and today this number has grown to 43. In addition, Citibank is deploying an additional 150 ATMs around the territory; by the end of the deployment there will be over 250 Citibank-branded ATMs, together with over 2,000 Jetco ATMs, providing extensive and comprehensive banking services for customers on the go.

Stephen Bird, Chief Executive Officer, Citi Asia Pacific, said, "Hong Kong is a crucial part of our wider Asia Pacific expansion plans and we have ambitious plans to expand further across the region. Hong Kong will be at the heart of a golden decade of investment for Citi in Asia Pacific."

Weber Lo, Chief Executive Officer and Country Business Manager, Citibank Global Consumer Group Hong Kong, said, “The fact that our global CEO Vikram Pandit officiated at the opening of this new Mong Kok Branch shows that the Hong Kong market holds strategic importance in Citibank’s global growth strategy. Our flagship Mong Kok Branch, designed with Smart Banking in mind, serves the vast Mong Kok community with many technology-enabled facilities, thus setting a new level of customer experience and reflecting our priority focus globally on customer-centric innovation.”

The branch showcases many of Citibank’s hi-tech customer services, including:

  • 52”-touch-screen digital screens (Information Browsers) for customers to browse financial-related information, view product and service demos and use interactive financial calculators for personal finance budgeting.
  • Workbenches for customer to conduct their banking transactions online and acquire free stock quotes.
  • Media Walls providing updates on the latest Citibank products and services, market news and FX rates.
  • Video conferencing facilities that enable clients to get instant access to investment experts based at different locations.
  • Free Wi-Fi connection for increasingly mobile customers.

Mong Kok Branch provides a complete suite of banking services for both retail and commercial customers in the four-story premises:


G/F – Express Banking Center ATMs, general enquiries, applications on different products


1/F – General enquires and teller services General enquiries, mortgage and loan, investment and insurance, teller transactions and self-serve banking services


2/F – Citigold Center, Commercial Bank Center Citigold wealth management services for affluent customers, Citigold dedicated teller counter Commercial banking services such as trade services, cash management, and lending.


3/F – Citigold Private Client Center More sophisticated wealth management and financial services to HNWIs


The new Mong Kok Branch is located at G/F–3/F, Wai Fung Plaza, 664 Nathan Road, Mong Kok, Kowloon. Operating hours are 9:30am – 7:00pm Monday to Friday, and 9:30am – 12:00 noon on Saturday, and closed on Sunday and public holidays. The Express Banking Center is open until 11:00pm on weekdays and Saturday, and from noon till 9:00pm on Sunday.

Citi
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Through Citicorp and Citi Holdings, 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. Additional information may be found at www.citigroup.com or www.citi.com.