Citibank (Hong Kong) Limited (Chinese: 花旗銀行, formerly 萬國寶通銀行) is a

Citigroup Citigroup Inc. or Citi (Style (visual arts), stylized as citi) is an American multinational investment banking, investment bank and financial services corporation headquartered in New York City. The company was formed by the merger of banking ...

subsidiary, which is a licensed bank incorporated in

Hong Kong Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China ( abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delt ...

History

Citibank Citibank, N. A. (N. A. stands for " National Association") is the primary U.S. banking subsidiary of financial services multinational Citigroup. Citibank was founded in 1812 as the City Bank of New York, and later became First National City ...

began operations in Hong Kong in 1902, thus becoming the first

foreign bank A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

to offer its services there. The bank is based at Three Garden Road in

Central Central is an adjective usually referring to being in the center of some place or (mathematical) object. Central may also refer to: Directions and generalised locations * Central Africa, a region in the centre of Africa continent, also known as ...

, formerly known as Citibank Plaza.

Company profile

Citibank Hong Kong has a network of 48 branches spread over

Hong Kong Island Hong Kong Island is an Islands and peninsulas of Hong Kong, island in the southern part of Hong Kong. Known colloquially and on road signs simply as Hong Kong, the island has a population of 1,289,500 and its population density is 16,390/km ...

Kowloon Kowloon () is an urban area in Hong Kong comprising the Kowloon Peninsula and New Kowloon. With a population of 2,019,533 and a population density of in 2006, it is the most populous area in Hong Kong, compared with Hong Kong Island and t ...

New Territories The New Territories is one of the three main regions of Hong Kong, alongside Hong Kong Island and the Kowloon Peninsula. It makes up 86.2% of Hong Kong's territory, and contains around half of the population of Hong Kong. Historically, it ...

and

Macau Macau or Macao (; ; ; ), officially the Macao Special Administrative Region of the People's Republic of China (MSAR), is a city and special administrative region of China in the western Pearl River Delta by the South China Sea. With a pop ...

. Citibank’s parent company, Citigroup, has three main divisions in Hong Kong: Citi Markets & Banking, Global Consumer Group and Global

Wealth management Wealth management (WM) or wealth management advisory (WMA) is an investment advisory service that provides financial management and wealth advisory services to a wide array of clients ranging from affluent to high-net-worth (HNW) and ultra-high- ...

. The Global Consumer Group operates under the Citibank brand and its financial products and services are offered through 25 branches, one of which is in Macau. Additionally, Citibank Hong Kong provides investment options in the form of bonds,

mutual fund A mutual fund is a professionally managed investment fund that pools money from many investors to purchase securities. The term is typically used in the United States, Canada, and India, while similar structures across the globe include the SICAV i ...

s, insurance products, foreign currency trading and

stock trading In finance, a trade is an exchange of a security (stocks, bonds, commodities, currencies, derivatives or any valuable financial instrument) for "cash", typically a short-dated promise to pay in the currency of the country where the 'exchange' is lo ...

. Through Citigold Wealth Management Banking, clients get a customised plan on wealth management. Citibank Hong Kong is also one of the largest issuers of credit cards in Hong Kong.

Product lines and services

Like all other banks, Citibank Hong Kong offers various types of bank accounts options, investment products, loans and credit cards to its clients.

Mobile financial services

Through partnership with

SK Telecom SK Telecom Co., Ltd. ( or ) is a South Korean wireless telecommunications operator and former film distributor and is part of the SK Group, one of the country's largest chaebols. It leads the local market with 50.5 percent share as of 2008. S ...

, Citibank has established Mobile Money Ventures to sell mobile financial services applications.

Mobile Banking Mobile banking is a service provided by a bank or other financial institution that allows its customers to conduct financial transactions remotely using a mobile device such as a smartphone or tablet. Unlike the related internet banking it uses ...

services were launched in Hong Kong in November 2008. The network- and device-independent mobile services platform supports diverse handsets; the platform is also available with customisable features like mobile stock trading. Customers of Citibank Hong Kong now have access to services such as account inquiry and management, transfer and payments, time deposits, stock trading, pending order management, stock quotation and portfolio management through their mobile phones.

The Octopus Credit Card

In July 2008, Citi launched a combined contactless Octopus travel and credit card in Hong Kong. With over 50,000 terminals operational, customers can use their Octopus cards to travel on public transportation, as well as make low-value

contactless payment Contactless payment systems are credit cards and debit cards, key fobs, smart cards, or other devices, including smartphones and other mobile devices, that use radio-frequency identification (RFID) or near-field communication (NFC, e.g. Samsun ...

s at participating retail outlets. The Octopus Rewards Scheme enables users to collect and spend points earned from participating merchants. Users can also avail of cash rebates by spending on their Octopus cards; the rebates are credited for further usage. Similar partnerships have been forged with the Mass

Rapid transit Rapid transit or mass rapid transit (MRT), also known as heavy rail or metro, is a type of high-capacity public transport generally found in urban areas. A rapid transit system that primarily or traditionally runs below the surface may be c ...

Systems (MRT) in Delhi and Singapore, and the New York City Metropolitan Transport Authority

Leadership

* ''Regional Chief Executive:'' Peter Babej (since October 2019) * ''Country Chief Executive:'' Angel Ng (since May 2018)

Former Regional Chief Executive's

''The region-wide Chief Executive role was founded in 2008.'' #

Ajay Banga Ajaypal Singh Banga (born November 10, 1959) is an Indian-American business executive. He is currently Vice Chairman at General Atlantic. He was executive chairman of Mastercard, after having previously served as president and chief executive off ...

(2008–2009) #Shirish Apte and Stephen Bird (2009–2012) #Stephen Bird (2012–2015) #Francisco Aristeguieta (2015–2019)

Former Hong Kong and Macau Chief Executive Officer's

''List since the formation of Citigroup in 1998.'' # Chan Tze-ching (1999–2003) # Catherine Weir (2003–2004) # Chan Tze-ching (2005–2007); second term # Sim S Lim (2007–2008) # Shengman Zhang (2008–2013) # Weber Lo (2013–2018)

References

www.financialexpress.comwww.finextra.comwww.careertimes.com.hk
{{Citigroup Citigroup Banks of Hong Kong Banks established in 1902 1902 establishments in Hong Kong