OREANDA-NEWS. June 23, 2011. Citibank (China) Co., Ltd. (“Citi China”) today officially opened for business in the city of Changsha. The branch is Citi’s twelve in China, and is the first for Citi in China’s central region. A ceremony was held to mark the milestone, attended by Stephen Bird, Chief Executive Officer for Citi Asia Pacific; Andrew Au, Chief Executive Officer for Citi China; and Simon Chow, Country Business Manager of Citibank China, as well as local government and regulatory representatives.

Mr. Stephen Bird said, “In 2011, Citi is enjoying strong growth momentum in China, reflecting our client focus, our leadership in innovation, and our ability to use our global network to best advantage on behalf of our clients. We are widening our product set in China and at the same time we are expanding our network to dynamic cities such as Changsha. China remains a priority market for Citi, and we will continue to invest in China in 2011 and beyond.”

Mr. Andrew Au said, “Hunan province is a key driver of economic development in central China, and Citi is delighted to be establishing a presence in its capital, Changsha. We are putting an outstanding team on the ground in Changsha and expect that our new branch will play an active role in supporting both retail and institutional clients in and around the city.”

The Changsha branch offers a range of Renminbi (RMB) and foreign currency products and services to multinational and local companies, Chinese residents and foreign nationals. Citi China has a large and diverse base of institutional clients, and has a demonstrated track record in helping Chinese companies achieve their strategic goals.

Bankers at the branch will work closely with leading companies in Changsha, including small-and-medium enterprises, large local corporates, and multinational companies. Corporate banking services offered at the branch include cash management, trade finance and services, loans and syndication, FX transactions, project finance and structured finance and other financial products.

Citi is the first international bank to offer consumer banking services in Changsha. Like all other Citibank outlets in China, the new outlet offers both Citibanking and Citigold services.

Mr. Simon Chow said, “Citibank has built a track record of delivering innovations in China that are distinguishing our service offering and adding value to our customers. The smart banking outlet we are opening in Changsha will give its residents a brand new and superior banking and wealth management experience.”

Key technology and services offered to retail customers include:

Fully “Wi-Fi enabled” allowing customers to go online while inside the outlet using their mobile devices.

The “Citi Explore”, which comprises of a number of interactive touch screens that enable customers to easily obtain information about Citibank as well as Citibank’s latest product and service offerings at their fingertips. The “Citi Service Browser” also includes hand-held devices containing electronic brochures with detailed introduction to Citibank products and services, market outlook and commentaries, audio and video clips. These devices negate the need for print materials in the spirit of Citibank’s commitment to environmental sustainability.

The “Citi Connect” enables customers to browse the web and get access to Citibank China’s next-generation online banking services, which include enhanced online security features, more convenient online payments and transfers; “Global View of Accounts” allowing customers to access Citibank accounts in multiple countries, a comprehensive set of alerts / SMS-based banking services, all delivered with user-friendly interface and modern look-and-feel.

“Citi Assist” refers to interactive video conferencing services that provide customers with the opportunity to obtain additional expert opinion and consultation from Citibank specialists at another location on a real time basis via video phones.

Wireless “Soft Phones” are used by all staff to allow easy and flexible communications.

 “Internet kiosk” is a complimentary feature with state-of-the-art computers to access external websites for the convenience of our customers.

Citi also announced a number of initiatives designed to support the local community in and around Changsha. These include a new scholarship program with Hunan University to recognize 12 outstanding students comprising a mix of undergraduate and postgraduate students from the College of Finance and Statistics each year. 

Citi also announced its support for The Library Project, an NGO that donates libraries to under financed schools and orphanages in China. With Citi’s support, The Library Project will establish five new reading rooms, which are designed to be fun and safe places for children to enjoy reading at rural elementary schools. Planning is currently centered upon establishing the rooms at five elementary schools in Anhua County, around four hours from Changsha.

The Changsha branch houses 12 corporate bankers and 43 retail banking professionals. It is located at No.110, Furong Middle Road, 2nd Section, Changsha, Hunan Province, P. R. China.