Citi launches ‘global banking’ for globetrotters

June 17th, 2008 - 8:28 am ICT by IANS  

Mumbai, June 16 (IANS) Global financial services Citibank Monday announced the launch of Citigold Global Banking that will focus specifically on providing retail banking and wealth management in the Asia-Pacific region. Citigold Global Banking intends targeting those who travel a lot on business. India was a lucrative market, as the number of Indians getting overseas assignments was increasing, a Citibank spokesperson said.

“Often, a simple and routine transaction, such as opening a bank account, remitting money, buying a house, or taking a loan in case of emergencies, becomes extremely complicated on foreign shores. It is here that Citigold Global Banking will play a pivotal role in helping its clients,” the spokesperson said.

Wealth management and retail banking comprises investments, insurance, mortgage, business banking, retirement planning, succession planning and wealth transfer.

Citibank estimates that in the Asia-Pacific region, the mass affluent segment is growing roughly at around 15 percent on an annual basis.

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