Citibank Korea Strengthens SME/MME Business

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2009-11-12 13:12

Seoul--(뉴스와이어)--Citibank Korea (CEO Yung-Ku Ha, www.citibank.co.kr) announced a Korean model for Local Commercial Banking (LCB) introduced at a Citigroup level globally early this year. The new model aims at strengthening SME/MME business in Korea by applying the Citi’s global LCB model to Citibank Korea business.

Under the new model, channel for corporate financial products and services including large, public, financial and foreign companies of the Corporate Banking Group remains the same as the global business of companies located in Korea continues to be concentrated in the Head Office without using branches.

Meantime, all customer services provided by branches will be under the newly established Retail/Commercial Banking Group. With the change, LCB Division will be one of the two key divisions along with GCG Branch Distribution Division in the new Group. LCB Division was created early this year by integrating Commercial Banking Division and Citibusiness Division which were in charge of SME/MME and SME respectively.

With the new model, services toward retail and SME/MME customers introduced in all branches early this year will be efficiently managed. At the same time, strong cooperation will be established between Head Office and branches based on One Citi in terms of loan approval, FX derivatives and risk management, translating into enhanced cross-sell services between corporate and retail customers.

“We expect cross-sell to substantially increase between corporate and retail sales as both corporate and retail customers enjoy efficient financial services in all branches through branch integration. The new model is an innovative measure to broadly utilize our relatively small branch network compared with other major banks. This will be an opportunity for us to enhance market competitiveness by leveraging our strength in corporate banking while expanding the range of customer services in branches.” said CEO Yung-Ku Ha.

Retail/Commercial Banking Group will be led by Hung Joo Lee, former Head of the Retail Banking Group while Kyung Hong Kim, who was the Head of Commercial Banking Division will be in charge of the LCB Division under Retail/Commercial Banking Group.

* For any inquiries, please contact Yong-Shik Lee or Suk-Gee Hong at Communication Department of Citibank Korea at 02-3455-2326 or 2340.

Citibank Korea Inc.

Citibank had opened its first branch in Korea in 1967, and was born newly as Citibank Korea Inc. (CKI) through integration with KorAm Bank in 2004. CKI serves customers at 231 branches (as of end of June 2009) in Korea by providing the first class financial products and services based on the various products and know-how of Citi with global network including more than 100 years of history and 200 million customers in more than 100 countries. CKI delivers new financial world to the customers through development of innovative financial products and services, encompassing from corporate and investment banking to consumer banking, private banking, and wealth management. Furthermore, Citibank Korea Inc., as a responsible corporate citizen, conducts diverse community activities in the areas of financial education, next generation education, woman, diversity, community, and environment consistently in corporation with sound non-profit organizations.

웹사이트: http://www.citibank.co.kr