Citibank (Hong Kong)

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Citibank (Hong Kong) Limited
花旗銀行(香港)
TypeSubsidiary of Citigroup
IndustryBanking, financial services
Founded1902; 119 years ago (1902)[1]
Headquarters, Hong Kong,
Hong Kong
Area served
Hong Kong
ProductsCredit cards
Retail banking
Commercial banking
Investment banking
Private banking
Financial analysis
Increase HKD7.8 billion (2018)[2]
Increase HKD3.0 billion (2018)[2]
Total assetsIncrease HKD224 billion (2018)[2]
Total equityIncrease HKD23 billion (2018)[2]
Footnotes / references
[3]


Citibank (Hong Kong) Limited (Chinese: 花旗銀行, formerly 萬國寶通銀行) is a licensed bank incorporated in Hong Kong.[4]

History[]

Citibank began operations in Hong Kong in 1902, thus becoming the first foreign bank to offer its services there. The bank is based at Three Garden Road in Central, formerly known as Citibank Plaza.[5]

Company profile[]

Citibank Hong Kong has a network of 48 branches spread over Hong Kong Island, Kowloon, New Territories and Macau.

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

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 funds, insurance products, foreign currency trading and stock trading. 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, Citibank has established Mobile Money Ventures to sell mobile financial services applications.[6] Mobile Banking 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[]

Main article: Octopus 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 payments 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.[citation needed]

Similar partnerships have been forged with the Mass Rapid transit Systems (MRT) in Delhi and Singapore, and the New York City Metropolitan Transport Authority

Leadership[]

  • Regional Chief Executive: Peter Babej (since October 2019)[7]
  • Country Chief Executive: Angel Ng (since May 2018)[8]

Former Regional Chief Executive's[]

The region-wide Chief Executive role was founded in 2008.[9]

  1. Ajay Banga (2008–2009)[10]
  2. Shirish Apte and Stephen Bird (2009–2012)[11]
  3. Stephen Bird (2012–2015)[12]
  4. Francisco Aristeguieta (2015–2019)[13]

Former Hong Kong and Macau Chief Executive Officer's[]

List since the formation of Citigroup in 1998.

  1. Chan Tze-ching (1999–2003)[14]
  2. Catherine Weir (2003–2004)[15]
  3. Chan Tze-ching (2005–2007); second term[14]
  4. Sim S Lim (2007–2008)[16]
  5. Shengman Zhang (2008–2013)[17]
  6. Weber Lo (2013–2018)[18]

See also[]

References[]

  1. ^ "Citi | Asia Pacific | Hong Kong". www.citigroup.com. Retrieved 20 January 2019.
  2. ^ Jump up to: a b c d Citi HK 2018 Annual Report
  3. ^ "Citigroup Inc. 2017 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  4. ^ "Citibank Hong Kong Terms & Conditions". www.citibank.com.hk/.
  5. ^ "Grade-A Office Complex Citibank Plaza to Be Renamed as "Three Garden Road, Central"". au.finance.yahoo.com. Retrieved 3 January 2020.
  6. ^ Ko, Carol (31 October 2008). "Mobile technology from Citibank". MIS Asia. Archived from the original on 31 October 2016. Retrieved 31 October 2016.
  7. ^ "Citigroup promotes Peter Babej to Asia-Pacific chief executive to head its most lucrative region outside North America".
  8. ^ "Citi appoints CCO, CEO for Hong Kong, Macau".
  9. ^ "Citigroup's new Asia CEO reorganizes by region".
  10. ^ "Ajay Banga to Leave Citi".
  11. ^ "Shirish Apte shares top job with Stephen Bird at Citi".
  12. ^ "Citi reshuffles Asia-Pacific management -memo".
  13. ^ "Speaker Biography" (PDF).
  14. ^ Jump up to: a b "Career banker Chan quits Citigroup".
  15. ^ "Catherine Weir Appointed CEO of Citi's Global Wealth Management Business for Europe, Middle East and Africa".
  16. ^ "Sim S Lim".
  17. ^ "Citi names new country officer for Hong Kong".
  18. ^ "Citi appoints Weber Lo as Hong Kong chief".
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