OREANDA-NEWS. November 30, 2012. Citi Russia’s Consumer business has announced its 10-year anniversary today. Its first Paveletskoye Consumer branch was opened in November 2002. Employees of Citi Russia’s corporate division became its first Consumer clients, reported the press-centre of Citibank. 

Despite the fact that the bank always has followed the organic growth model, 10 years later Citi’s Consumer business is one of the largest consumer banks in the country. It focuses on serving Russia’s middle class population (Affluent and Mass Affluent) throughout world’s top cities based on innovative banking technologies and modern and convenient products and services.

Citi Russia’s Consumer milestones:

2002 – Citibank opens first consumer branch.

2003 – Citibank is the first bank in Russia to offer online applications.

2003 – Citibank is the first bank in Russia to offer its VIP clients the Individual Financial Planning Program. One of the innovative products the bank offers are market linked deposits.

2004 – Citibank opens its Consumer branch in St. Petersburg.

2005 – Citibank is the first bank in Russia to issue credit cards with a grace period.

2007 – Citibank is the first bank in Russia to launch Cash Back credit cards.

2007 – Citibank launches branches in Samara, Rostov-on-Don, Yekaterinburg and Nizhny Novgorod.

2008 – Citibank opens an innovative operations center in Ryazan capable to accommodate over 1,000 Consumer employees.

2010 – Citibank’s clients exceed 1 million Russians.

2011 – HSBC selects Citi its partner on closing its operations in the country. Citibank acquires HSBC’s credit portfolio.

2012 – Citibank launches its first loyalty program – Citi Select.

Michael Berner, Member of the Board of ZAO Citibank: "10 years is quite a substantial of an age, particularly for Russian young banking sector. We stood at the cradle of the current banking landscape in this country. We were always confident in the potential of the Russian sector, and we continue to adhere to this approach. We anticipate sustainable growth of our business here. We will keep on working hard to empower our valued clients to accomplish their goals."

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ZAO KB Citibank was one of the first banks with foreign capital to enter the Russian market back in 1992. Today, Citibank is one of the country’s largest banks, which offers corporate and private clients a wide range of products and services. To date, the bank has over 4,000 employees, and its retail network includes over 550 ATMs, branches and representative offices in major cities of Russia, Kazakhstan and Ukraine. For more information on Citibank Russia please visit www.citibank.ru.

Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 160 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.