Citi Celebrates Launch of RMB Corporate & Retail Services and Second Consumer Outlet in Guangzhou
First Foreign Bank to Launch Investment-Linked Insurance in Guangzhou
Guangzhou – Citibank (China) Co., Ltd. (“Citi”) today held a celebration event to mark the launch of Renminbi (“RMB”) services to Chinese corporates and residents in Guangzhou and to officially open a new consumer outlet. A number of other milestones in Guangzhou were also celebrated, including the expansion of Citibank’s Citigold offering and the launch of an investment linked-insurance offering.
“Since opening in 1998, the Citi team in Guangzhou has strived to ensure the best possible service experience for our customers. It is very pleasing to be building on the strong foundation we have created, as we broaden our offering to companies and retail customers through the launch of RMB services,” Mr. Milson Lau, Guangzhou Branch Manager, said.
Citibank’s second consumer banking outlet in Guangzhou, in Huan Shi Dong road, is a full service outlet, providing both foreign currency and RMB products and services to Chinese residents.
Mr. Anand Selva, Executive Vice President of Citibank (China) Co., Ltd., said, “It is exciting to be expanding our presence in the vibrant city of Guangzhou with this new world-class outlet. Its opening adds to Citibank’s growing momentum in China in 2007 as we continue to expand our service offering and meet the changing banking and wealth management needs of our customers.”
Citibank and CitiGold services are available at the outlet. Customers using the Citibank service, which requires a minimum balance of RMB80,000 or above, will be provided with a choice of a comprehensive range of services to manage their wealth. These include savings and investment products, such as the multi-currency deposit, flexible time deposit, premium account, and structured investment account; mortgage loans; insurance, with products designed to both protect and grow wealth; and remittance services, including Citi-RemEx, which allows customers to remit funds from Citi China accounts to Citi Greater China accounts within three hours.
The second category of service offering is Citibank’s Citigold wealth management offering, which requires a minimum balance of RMB800,000 or more. CitiGold is designed to provide world-class wealth management services. Citigold customers in Guangzhou will be now able to enjoy an expanded range of Citigold services with the launch today of “Citigold Global Access” and “Citigold Wealth Planner.” “Citigold Global Access” is the first offering of its kind to be made available in China. It is a suite of convenient, comprehensive and free services for Citigold customers to enjoy when they visit any of the Citigold Centers around the world. “Citigold Wealth Planner” is a personal financial analysis tool that helps craft financial strategy. Through this tool Citigold Relationship Managers can understand a customer’s overall financial situation and risk profile, determine their current and future wealth management needs, and help them select appropriate wealth management products.
Citi also announced the launch of a new investment-linked insurance product in Guangzhou, following successful launches of the product in Shanghai, Beijing and Shenzhen. Offered jointly by Sino-U.S. MetLife Insurance Company Limited and Citibank, the Wealth Selected Protection Plan (B) is designed to act as an investment vehicle, allowing customers to invest capital while enjoying financial protection, supported by funds solutions from fund management companies. Customers can either choose or build a portfolio on their own from three baskets of funds, namely “Money Market,” “Balanced,” and “Equity,” depending on their investment horizon and risk appetite.
“The expansion of our Citigold offering in Guangzhou and the launch of the new investment-linked product with MetLife is an outcome of our commitment to deliver the very best products to our customers and to provide a superior customer service experience. The opening of new outlets such as Guangzhou Huanshidong will enable increasing numbers of customers to enjoy these benefits,” Mr. Selva said.
Citibank Huan Shi Dong Sub-branch houses 16 retail banking professionals including Citigold Relationship Managers and Personal Bankers, trained and certified to provide premium banking services to customers. It is located on 1/F, Asia International Hotel, 326 Huanshidong Road, Guangzhou, P.R.China.
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