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Citibank NA Indonesia posted a net profit of 2.4 trillion Rupiah ($170.51 million) in the first nine months of the year, a 70 percent jump from the same period last year despite lower loan disbursements. The increase in profit was driven by increases in the…
Citibank Singapore announced that it is the first bank in Singapore to introduce instant in-principle approval for debt consolidation plans. Customers applying online for Citibank Singapore’s debt consolidation plan will receive an immediate indication of…
New entrants and increased competition brought about by challenger banks could result in revenue losses of up to 30 percent among legacy banks over the next 10 years. While digitalization can lower costs for incumbent banks by 30 to 50 percent, new…
Citi today announced its first API partnership in Hong Kong through the launch of Citi Pay with Points on HKTVmall, the 24-hour online shopping mall operated by Hong Kong Television Network Limited. The new service enables cardholders of Citi points-bearing…
Citi has beta launched a banking chatbot on Facebook Messenger that is capable of providing customer account information to users. Dubbed Citi Bot, the chatbot will make its debut in the Singapore market and be progressively introduced to the wider Asia…
Citi has launched MobilePASS, an app-based soft token that enables corporate banking clients to use their own smartphones to generate dynamic passcodes to log into Citi’s institutional e-banking platforms. In Asia, MobilePASS is now available in Bangladesh,…
Lender Citibank Indonesia expects to book single-digit loan growth next year although it believes lending will pick up speed in the second half of 2017, the company’s top management said on Wednesday. “For Citibank, we expect single-digit [lending growth]. It…
The Indonesian branch of US-based Citibank saw its net profits rise in the third quarter of this year despite the ongoing global economic downturn and sluggish domestic demand. The bank’s net profits surged by 64 percent year-on-year (yoy) to Rp 1.9 trillion…
Samsung has secured the support of Citibank as it readies the release of its mobile payments service in Singapore. Samsung has already won around Singapore’s major banks as it prepares for the launch of its service in Q2.The company is hoping the deal with…
Citi Indonesia recorded Rp633 billion ( US$48 million ) in net profits in the first quarter this year, a 12 percent rise from Rp 567 billion in the same period last year. The profit growth was driven by a 10 percent increase in net interest income, as also…
In order to follow new MAS regulations. HSBC will transfer its local retail banking and wealth management business, which is currently under the HSBC Singapore Branch, to a locally incorporated subsidiary, HSBC Bank (Singapore) Limited. The transfer of HSBC’s…
Vira-anong Phutrakul was promoted to the post of consumer business manager in November, making her the first local executive to lead Citi Thailand’s consumer-banking business, overseeing functions including credit cards and loans, retail-banking wealth…
HONG KONG Banks in Hong Kong are intensifying the battle for young customers key to their future retail profit, offering online perks and mobile banking products in a bid to erode the dominance of HSBC in its Asian stronghold. Like peers around the world,…
Citi has appointed Anand Selvakesari as head of consumer banking for Asia Pacific. Anand will manage all of Citi’s consumer businesses in Asia across the 12 markets that Citi offers retail banking, wealth management, cards and mortgages in the region. Anand…
Citigroup Inc (C.N) will combine its retail banking and mortgage operations under Jonathan Larsen, according to an internal memo seen by Reuters, in the second senior promotion for a veteran of the bank’s Asian franchise this year. The U.S. bank’s Asia…
