Russia: Citibank Named Best Consumer Bank by Global Finance
March 29, 2006, Moscow – ZAO Citibank was named the Best Consumer Bank in the Russian Consumer Finance category by Global Finance in 2006. The awards ceremony honoring the selection will be held on April 24 in London as a part of the Ninth Russian Economic Forum.
The Global Finance rating includes banks, credit organizations and financial institutions, which have achieved the best results on such criteria as market leadership, innovation, commitment to markets and evidence of a long-term winning strategy. Banks are selected based on input from end-users, analysts, corporate reports and other expert sources.
“The Russian banking sector continued to show resilience and the ability to innovate and adapt,“ said Global Finance publisher Joseph D Giarraputo. “That’s recognized in our awards, for which there were strong competitors in every category. Russia’s banks show every sign of being able to mature and meet coming challenges in financing the country’s companies, consumers and savers.”
Rajive Chadha, Consumer Business Head, Citibank Russia said: “We would like to thank our customers for the business that they give us and promise to provide only the best products and services. Also, this award is a great testimony to the hard work and dedication of our staff towards building a truly great consumer franchise in Russia.”
In 2005, Citibank’s consumer business developed at a fast pace due to customer demand for the bank’s products and services. By the year-end, the bank more than doubled its retail business volume and opened 15 new branches in Moscow and St-Petersburg, while installing 39 ATMs.
The bank also increased its partner companies’ databases by 96%, concerning special offers and discounts for Citibank’s customers. Currently, the bank maintains 29 branches in Moscow and St-Petersburg, 185 ATMs and financial centers, and recently launched operations in Samara and Ekaterinburg. The Citibank Russia Team won a Citigroup Award for Excellence for its achievements in the establishment of bank’s retail network the world over.
Throughout 2005, Citibank was actively working on the expansion of its product range. The bank’s customers were offered a whole number of new financial products and services, including: grace period credit cards, Miles&More and MegaFon co-brand credit cards, Ultima credit card for privileged CitiGold customers, indexed deposits, integrated investment products and a credit card insurance program.
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Citigroup, the leading global financial services company has some 200 million customer accounts and does business in more than 100 countries, providing 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, and wealth management. Major brand names under Citigroup’s trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney and Banamex. Additional information may be found at www.citigroup.com.
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