Skip to content
June 26, 2022
  • Disclosure Policy
  • Sitemap
  • Advertise Here
  • Contact Us
Official  Outlet

Official Outlet

trending business in the world

  • Blog Article
  • Business insurance
    • Small Business Ideas
    • Global Business
    • International Business
  • Business analyst
    • Business plan
    • Business insider
    • Business strategy
  • Business management
    • Sales Management
    • Strategy Management
    • Project Management
    • Profitable
  • Opportunity
    • Entrepreneurship
    • Business leadership
  • Human Resource
    • Team Building
    • Business News
    • Employment
    • Profesional Service
Watch Online
  • Home
  • Business News
  • Citigroup to exit retail banking in Philippines
  • Business News
  • Employment
  • Entrepreneurship
  • Financial
  • Human Resource
  • Opportunity
  • Profesional Service
  • Profitable
  • Project Management
  • Sales Management
  • Strategy Management
  • Team Building

Citigroup to exit retail banking in Philippines

Citigroup, Inc. will leave its consumer banking business in 13 Asia-Pacific markets, including the Philippines, but continue to maintain a corporate banking presence. “As a
Adiantku 1 year ago 2 min read

Citigroup, Inc. will leave its consumer banking business in 13 Asia-Pacific markets, including the Philippines, but continue to maintain a corporate banking presence.

“As a result of the ongoing refresh of our strategy, we have decided that we are going to double down on wealth. We will operate our consumer banking franchise in Asia and EMEA (Europe, Middle East, and Africa) solely from four wealth centers, Singapore, Hong Kong, UAE (United Arab Emirates) and London,” Citi Chief Executive Officer (CEO) Jane Fraser said in a statement on Thursday.

Apart from the Philippines, the banking giant is planning to exit its consumer banking businesses in Australia, Bahrain, China, India, Indonesia, South Korea, Malaysia, Poland, Russia, Taiwan, Thailand and Vietnam. It will retain its institutional clients group within the affected countries.

“Asia Pacific is an integral part of our global strategy, and a key driver of our growth and value proposition. We will continue to invest in our network across the region and deliver Citi’s unique global capabilities to clients across all our markets,” Citi Asia Pacific CEO Peter Babej said.

Citi set up shop in the Philippines in 1902. It currently has over 8,000 employees working in its corporate and retail banking units, and service centers in the country.

Citi Philippines CEO & Country Officer Aftab Ahmed said it will be business as usual in the meantime.

“There is no immediate change to our operations, and no immediate impact to our colleagues as a result of this announcement. In the interim, we will continue to serve our clients with the same care, empathy and dedication as we do today,” Mr. Ahmed said in the statement.

Citi’s first quarter income results showed revenues from Asia operations decreased 7{0018ee5a413206d5867d4650a6cb0bf5e2f9c77ab1c1dc5336e75263ef8a33b4} to $4.074 billion from $4.4 billion in the first three months of 2020.

Revenues from its global consumer banking in the region including some units in EMEA dropped 9{0018ee5a413206d5867d4650a6cb0bf5e2f9c77ab1c1dc5336e75263ef8a33b4} to $1.601 billion from $1.751 billion a year earlier.

“Asia global consumer banking revenues of $1.6 billion declined 9{0018ee5a413206d5867d4650a6cb0bf5e2f9c77ab1c1dc5336e75263ef8a33b4} on a reported basis and 12{0018ee5a413206d5867d4650a6cb0bf5e2f9c77ab1c1dc5336e75263ef8a33b4} in constant dollars, reflecting lower card revenues, as well as lower deposit spreads, partially offset by strong investments revenues and deposit growth,” Citi said. — L.W.T. Noble

Source link

Continue Reading

Previous: Online Reputation Management What You Should Know
Next: Philippines commits to 75{0018ee5a413206d5867d4650a6cb0bf5e2f9c77ab1c1dc5336e75263ef8a33b4} reduction in greenhouse gas emissions by 2030

Related Stories

Are You A Company In The Service Industry Who Needs To Keep Tabs On The 9 min read
  • Team Building

Are You A Company In The Service Industry Who Needs To Keep Tabs On The

Adiantku 4 months ago
Inside LeEco’s Spectacular Fall From Grace 8 min read
  • Team Building

Inside LeEco’s Spectacular Fall From Grace

Adiantku 4 months ago
You’re Looking At Our Old Jobs Page. 8 min read
  • Team Building

You’re Looking At Our Old Jobs Page.

Adiantku 4 months ago
ShareAlike 3.0 Unported — CC BY 9 min read
  • Team Building

ShareAlike 3.0 Unported — CC BY

Adiantku 4 months ago
This Is How The Next World War Starts 10 min read
  • Team Building

This Is How The Next World War Starts

Adiantku 5 months ago
Cruise Careers 8 min read
  • Team Building

Cruise Careers

Adiantku 5 months ago

Recent Posts

  • Dry, The Beloved Country
  • Best Careers For The Future To Focus On Today
  • How Do I Innovate My Business To Grow My Business Without Increasing Costs
  • How To Find The Best Horse Racing Bet Using The Pools
  • Tenders And How They Can Add To Your Business

Categories

  • Blog Article
  • Business analyst
  • Business insider
  • Business insurance
  • Business leadership
  • Business management
  • Business News
  • Business plan
  • Business strategy
  • Employment
  • Entrepreneurship
  • Financial
  • Global Business
  • Human Resource
  • International Business
  • Opportunity
  • Profesional Service
  • Profitable
  • Project Management
  • Sales Management
  • Small Business Ideas
  • Strategy Management
  • Team Building

About Us

  • Disclosure Policy
  • Sitemap
  • Advertise Here
  • Contact Us

recomendation

martine roch
honda math
run2game
dragonfly business
thehellenicvoice
ujc madrid
libyan stamps online
mercosur digital
momasstube
sciencefile
CK Dispensary
sdiwc
soldering point
home ideas finder

You may have missed

Dry, The Beloved Country 8 min read
  • Business analyst

Dry, The Beloved Country

Adiantku 3 months ago
Best Careers For The Future To Focus On Today 8 min read
  • Business insurance

Best Careers For The Future To Focus On Today

Adiantku 3 months ago
How Do I Innovate My Business To Grow My Business Without Increasing Costs 8 min read
  • Business insurance

How Do I Innovate My Business To Grow My Business Without Increasing Costs

Adiantku 4 months ago
How To Find The Best Horse Racing Bet Using The Pools 9 min read
  • Business analyst

How To Find The Best Horse Racing Bet Using The Pools

Adiantku 4 months ago
  • Disclosure Policy
  • Sitemap
  • Advertise Here
  • Contact Us
  • Disclosure Policy
  • Sitemap
  • Advertise Here
  • Contact Us
Copyright © 2021 Officialreligionoutlet.com. All rights reserved. | Kreeti by AF themes.