Citibank extends its business in Romania with a full-service retail offer
- Individual customers in Romania can now have access to Citibank’s world class retail banking products and services
- Wealth management customers now have access to exclusive banking services specially tailored to their needs through Citigold Services
- The bank announces the opening of two new branches
After building a successful business focused towards the corporate segment Citibank announced today in a press conference the launch of a complete range of products and services tailored to individual customers in Romania. The Retail Banking offering includes Citibank Online, the internet banking platform and CitiPhone Banking the phone banking platform, both of which are available 24/7 and are included by default into the current account package. The launch is also associated with the opening of two new branches located in Bucharest thereby taking the total number of branches in the capital to seven.
Citibank also announced the launch of Citigold services, the premium banking service for high net worth clients. This service comes with a range of products to help clients grow and invest thir money wisely, as well as an unique set of privileges to suit their lifestyle.
“The launch of retail banking in Romania is in line with our global strategic objectives of a client driven business model, harnessing Emerging Markets and global capabilities in every product and region and focus on innovation as a key competitive advantage.”, Sanjeeb Chaudhuri CEO - Consumer and Commercial Banking for Citicorp, EMEA said. “Citibank is confident of the success of its new services, due to its vast experience of nearly 200 years, serving more than 200 million customers in over 100 countries” Chaudhuri added.
The opportunity to diversify Citibank’s presence in Romania was a natural consequence of the bank’s desire to consolidate its position as an important player in the Romanian banking system. The creation of a diversified offer, as a response to customer needs, is just another step forward.
“After 13 years on the Romanian market during which we built successful partnerships with our corporate clients, our new range of products and services come to meet the needs of individuals This launch leverages our position as one of the best capitalized banks in Romania,” Shahmir Khaliq, Citi Country Officer (CCO) Citibank Europe plc, Dublin – Romania branch underlined. “By launching a full fledged retail business and opening up new branches and remote banking services like Citibank Online and Citi Phone that allow 24/7 banking from all around the world, our plan is to build an open and accessible relationship with our clients. Citibank, as a global player on financial markets, will bring its expertise to develop products and services committed to the highest standards, in line with our bank’s tradition”, he assured.
According to bank representatives, the decision to diversify the products and services offered to customers was based on several studies related to existing offers on the market correlated to the requirements of the clients. “While there is no shortage of banks in Romania, we believe that there is a significant room for improvement in the quality of banking products and services available to the customers. Our endeavour is to create a difference in the market by giving customers the ease and convenience to do their banking whenever and wherever they want through 24/7 banking services, giving them a range of innovative products and services with lower fees thereby giving them a superior customer experience.”, Kumar Ramachandran, Citibank Country Consumer Head said. “Our clients should focus on building their professional careers and on their personal lives and not have to worry about their banking services. This is the essence of our brand”, he outlined.
The Citigold wealth management offering is a key component of the Retail Banking service. This is focused on high net worth customers who invest more than USD 50,000 with the Bank.
“The key to sustainable growth in customer’s wealth is diversification of investments across a range of asset classes and geographies. That is why Citigold goes beyond the traditional banking deposit to also offer customers a range of investment and insurance solutions” Ioana Curtali, Wealth Management Head at Citibank Romania said. “Apart from the diversity of products our aim is also to give our Citigold customers a unique banking experience with no transaction fees and a host of privileges across travel, entertainment, leisure, shopping and dining.” Curtali added.
More details about Citibank’s retail and wealth management offer can be found on www.citibank.ro