Citi to open Korea desks in Vietnam and Czech Republic
Citi to open Korea desks in Vietnam and Czech Republic
Citi has announced that it plans to open more Korea desks this year to provide institutional banking services to Korean multi-national clients in Vietnam and further across Europe.
Currently, Citi is operating Korea desks in seven locations, including Shanghai, Beijing, Singapore, New Delhi, Moscow, London, and New York, providing institutional banking services to Korean multi-national clients across Western and Eastern Europe, India, the ASEAN, China, North America, and Latin America. The bank plans to continue opening more desks to serve Korean companies in their key countries of operation.
The locations of the new Korea desks include one in Hanoi, Vietnam in July and one in Prague, Czech Republic in September. The financial services to be provided include corporate banking, investment banking, local debt raising, foreign exchange, cash management, and trade financing.
“Our corporate clients are leveraging their business worldwide, based on their global competitiveness and strong brand awareness. The Korea desk strategy is effective in successfully supporting the local needs of our Korean multi-national clients along with Citi’s global network, and Citibank Korea’s strategy to reinforce support and investment for Korean multi-national clients is reflected in this expansion,” said MS Yoo, head of Corporate Banking for Citibank Korea.
Over the recent years, Citi has built a network of Asia desks across the world to support Asian companies in the markets of their choice. With a network of over 100 countries in the world, Citi more often than not has the local infrastructure and domestic knowledge in place to support these companies in markets across the likes of South America, and North America.
The national desks have proved to be a strong foundation for Citi’s strategy of growing its business with Asian multinationals across the globe. It is an important competitive advantage for Citi.
