Citibank_Korea

Citibank Korea

Citibank Korea

Franchise subsidiary of Citigroup

Citibank Korea (Korean: 한국씨티은행) is a South Korean subsidiary of Citigroup.

Quick Facts Company type, Industry ...

Citibank Korea was named the worst bank in terms of consumer complaints by the Financial Supervisory Service (FSS) in 2015.[2]

History

It was founded as KorAm Bank in 1983, which was acquired by Citibank in 2003.[3][4]

Branches

Citibank Korea currently has ATMs available in all 134 of its branches, facilitating transactions with most international cards. However, starting in 2017, Citibank Korea has set a goal to reduce its branch network from 134 to 32 in the country.[5][6][7]

Products & Services

Citibank Korea offers consumers and institutions a range of financial products and services, including consumer banking. The company also offers credit cards in Korea.

References

  1. [1]
    "Citi | Asia Pacific | Korea". www.citigroup.com. Retrieved 2019-02-13.
  2. [2]
    Tae-hoon, Lee (18 March 2015). "Citibank, KEB receive most consumer complaints". The Korea Observer.
  3. [3]
    "Citigroup to Acquire KorAm Bank for KRW 3.18 Trillion -$2.73 Billion-*". www.businesswire.com. 2004-02-23. Retrieved 2019-02-13.
  4. [4]
    "Citigroup buys KorAm for $2.6 billion". msnbc.com. 2004-04-30. Retrieved 2019-02-13.
  5. [5]
    "Citi cuts 75% of South Korea branches as Western banks struggle in market". Nikkei Asia. Retrieved 2019-02-13.
  6. [6]
    "Citibank Korea to close 80% of its branches". The Korea Herald. 2017-04-13. Retrieved 2019-02-13.
  7. [7]
    "Citibank Korea Plans to Close 80% of Branches, Triggering Employees' Protest". 비즈니스코리아 - BusinessKorea (in Korean). 2017-04-13. Retrieved 2019-02-13.


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