Citibank Taiwan Upgrades Taoyuan Branch

2 October 2012


Citibank Taiwan held a grand opening ceremony October 2 to launch its sixth Citigold Private Client (CPC) center in Taiwan and retrofitted Taoyuan Branch.

During the ceremony, the bank also announced that it will offer a series of promotional events for its branch clients, OBU (offshore banking unit) customers, and credit card holders to celebrate Citi's 200th anniversary.

The first round of promotions kicks off immediately. Citi credit card holders who buy full-priced beverages at Starbucks from Monday through Friday can enjoy a second round of the same drink at half price1. Two hundred Citi cardholders also stand the chance to share 2 million bonus points, i.e., each cardholder may earn 10,000 bonus points2.

The Taoyuan Branch has also been upgraded to include Smart Banking features and a Citigold Private Client center to provide local residents with a full range of financial services. To meet customers' increasing financial needs for the Chinese yuan, Citibank is ready to offer RMB related products and services.

Additionally, Citibank announced its exclusive offer of Institutional & High Net-worth Share Class securities for its CPC clients. In the past, only institutional investors could purchase such products and the minimum amount of investment funds required was US$ 500,000. In the future, however, CPC clients will need a minimum of US$ 100,000 to buy these products. Citibank lowered the investment threshold for its CPC clients significantly as such investment options are expected to take the lead in Taiwan's financial market.

"This year marks the 200th year of Citigroup," Citibank Taiwan Chairman Victor Kuan said, adding that over the past two centuries, Citi has financed some of the world's most important projects, including the Panama Canal in 1904 and the U.S. Space Shuttle Program in 1995.

Citi also took the lead in promoting automated teller machines (ATMs) worldwide. These milestones made the history of global financial innovation and also shaped people's lives. In Taiwan, Citibank's history dates back nearly 50 years. Through this time, it has pioneered banking in the domestic market through developments in self-service banking, the introduction of 24-hour banking centers and the launch of Citigold Wealth Management in 2001. Such achievements prove that Citibank continually incorporates a wide range of innovative financial products and services, world-class operating procedures and global know-how into the Taiwanese financial industry.

On the island, Citibank's outstanding performance and long-standing commitment to the local community have also gained recognition from independent agencies from here and abroad. In the Most Admired Company Survey conducted by CommonWealth Magazine, Citibank Taiwan emerged first place in the banking sector for the 17th consecutive year. It was also named the Best Foreign Commercial Bank in Taiwan for the 16th straight year in FinanceAsia's annual survey. In 2012, the Asian Banker magazine named Citi the Best Bank in Taiwan.

"Taoyuan has established itself as an important hub for connecting Taiwan to international communities. Many companies that are familiar and well known to Taiwanese people were also founded in Taoyuan," Kuan said.

The setting up of the CPC center and the Taoyuan Smart Banking branch during Citi's bicentennial and Taoyuan's 20th anniversary reaffirms Citi's long-term commitment to investing and establishing strong roots on the island.

"We also hope that Citibank, like these Taoyuan-based firms, will become as familiar and trusted to Citi customers and their families. Just as Taoyuan links the country to the global village, Citibank aspires to provide world-class financial services for our local clients here," Kuan added.

The retrofitted Taoyuan Smart Banking branch is the 35th Citi Smart Banking branch in Taiwan. Citi hopes to integrate its global network with cutting-edge technologies in the most convenient and efficient way, offering its customers brand-new banking experiences through technologically-advanced and user-friendly interactive interfaces.

"Citigold Wealth Management can help clients grasp relevant international trends that may provide opportunities to expand their business. The service also gives clients access to holistic financial planning advice and superior global financial services. This is why our clients favor us," said Yunny Lee, Head of Retail Banking at Citibank Taiwan.

"After exploring the needs of high-net-worth individuals (HNWIs), we decided to extend our lead in services and competitive advantages with the CPC brand," Lee added.

With the Citi bicentennial theme of "One Bank, Two Centuries, Enable Progress through Innovations," Citibank Taiwan will continually lead with new standards of banking in the Taiwan market. Citi has aligned its growth strategy with three long-term trends - globalization, urbanization and digitization - and will use these trends through its unique reach and expertise.