Citibank to take off in Vietnam

December 14, 2010 | 20:00
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Citibank has submitted an application to become a 100 per cent foreign bank in Vietnam.

>> Citibank Vietnam launches travel credit card

“We are looking forward to getting the licence next year,” said Citi country officer for Vietnam Brett Krause.

At present, Citibank has branches in Hanoi and Ho Chi Minh City and a nationwide partnership network that covers all of Vietnam’s 63 provinces.

It was the first United State financial institution to receive a branch licence in 1994 and the first US bank to open a full branch in Hanoi in 1995.

Two months ago,Citibank extended its retail bank operations in the country by opening a new branch and launching CitiGold, a service aimed primarily at individuals who have the ability to invest in their products, complementing to first retail branch in Ho Chi Minh Citylaunched last year.

Also, it collaborated with Master Card to launch the first travel credit card in Vietnam that targeted at elite and affluent consumers in Vietnam last week.

“With this first card, we hope to attract many more customers,” said Krause.

By Minh Thien

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