Citi celebrates 25th anniversary in Vietnam

Citi Vietnam was conferred the Flag of Honour and the Outstanding Bank Award by the SBV Governor

The Deputy Governor of the State Bank of Vietnam, Nguyen Kim Anh, and US Ambassador Daniel Kritenbrink joined the event at Melia Hotel in Hanoi and delivered key remarks.

US counsel general Marie Damour delivered the keynote speech in Ho Chi Minh City. Citi ASEAN head and Citi country officer (CCO) for Singapore Amol Gupte and CCO Vietnam Natasha Ansell hosted the ceremonies.

“When Vietnam started the doi moi policy and its integration into the global economy, it was a must for the country to have a financial market integrated to the world. Thus, we drew up the strategy to accelerate economic integration by opening the market to foreign banks. And Citi was the first US bank that was licensed by the Vietnamese government,” said former State Bank Governor Cao Sy Kiem.

In 1993, Citi started up a representative office in Hanoi. One year later, in 1994 Citi became the first US financial institution licensed to establish a full branch in Hanoi. In 1998, Citi opened the second branch in Ho Chi Minh City.

"All of us here today are invested in Vietnam’s success, and I look forward to continued collaboration toward our common goal of a strong, prosperous, and independent Vietnam,” said US Ambassador to Vietnam Daniel Kritenbrink.

He also noted Citigroup’s role in improving business conditions and fostering economic development in Vietnam, adding, “The work of Citi Vietnam – and many other US companies – has played a major role in strengthening the overall relationship between Vietnam and the US.”

Nguyen Kim Anh, Deputy Governor of the State Bank of Vietnam, said that over the past 25 years, Citi has expanded its leading role in the institutional and consumer banking segments in Vietnam.

“Serving as a trusted financial partner to the country’s top private groups and state-owned enterprises as well as multinational corporations, Citi has been driving the largest and most successful capital market transactions in Vietnam,” said Kim Anh after the handover of the Governor’s Flag of Honour and Outstanding Bank Award to Citi Vietnam.

Citi retained leadership in technology providing an extensive platform across online and mobile banking. With these comprehensive digital capabilities, Citi Vietnam became the first country in the world to accomplish 100 per cent e-statement penetration for clients.

As a testimony to the quality of Citi's value propositions, Consumer Credit cards accomplished a highly prestigious #1 Net Promoter Score (NPS) result in 2018 and 2019.

“Citi Vietnam is one of the fastest-growing franchises for Citi globally. We focus on our clients. Being the best for our clients is our number one mission. Our teams in the country, regionally, and globally will continue to invest in making sure that Citi Vietnam delivers top-class services for our clients. We look forward to the next 25 years and beyond in this wonderful country,” said CCO Natasha Ansell.