Citi sharpens its focus on institutional banking

Citi sharpens its focus on institutional banking

Citi boasts strength in cross-border payments and supply chain finance. Minh Ngo, newly appointed Citi country officer and banking head for Vietnam, discussed the bank’s strategic priorities in this country with VIR’s Thien Huong.

Citi has refocused its global strategy in recent years. What are Citi’s strategic priorities in Vietnam now?

Citi’s priority in Vietnam is to double down on what we do best, supporting institutional clients both locally and across our global network with solutions to help them grow their business.

We’ve been in Vietnam for three decades – Citi was the first US financial institution established here, and we’ve been actively supporting Vietnam’s integration into the global economy over the past 31 years.

Today, following Citi’s global strategy refresh, we remain deeply committed to Vietnam. We have sharpened our focus on institutional banking, playing to our strengths in these areas. That means leveraging Citi’s unmatched global network and digital capabilities to be the best partner for our clients. Our presence in over 90 markets gives us a unique ability to connect Vietnamese businesses and international investors – an advantage no other bank can replicate.

In short, our strategy is about staying true to Citi’s DNA: using our global network, innovative tech, and deep expertise to support Vietnam’s economic growth while delivering excellence for our clients.

Minh Ngo

Vietnam has firmly established itself as a leading destination and manufacturing hub for foreign investment. How does Citi support this trend?

This is a trend that continues to gain momentum. For multinational companies, Vietnam has emerged as a preferred hub. A combination of competitive labour costs, a large domestic market, supportive government policies, and extensive free trade agreements underpins the country’s sustained appeal to global investors.

Citi economists expect this momentum to continue. In Citi’s view, these developments solidify Vietnam’s role as a trade and investment destination of global significance. Citi is committed to leveraging its international network and expertise to facilitate capital flows and support this ongoing development.

By providing long-term financing, supply chain finance solutions, and digital innovation, we aim to help both multinational and local clients grow, thereby facilitating global investment and supporting Vietnam’s continued economic growth.

Citi is known for its cross-border payments and transaction banking capabilities. How do Citi’s global strengths in payments benefit Vietnamese clients?

Cross-border payments are an area where Citi truly differentiates itself. For Vietnamese companies, this means they can pay suppliers or receive funds from customers across the world quickly, securely, and in the local currencies they need.

We’ve invested heavily in digital platforms that allow clients here to transact globally 24/7, giving them better control over liquidity and working capital. This kind of capability makes international payments feel almost as seamless as domestic ones, essentially as if there are no borders in banking.

And for a multinational client operating in Vietnam, Citi’s global platform allows them to centralise and manage all their regional payments easily. Our clients benefit from the speed, scale, and reliability of Citi’s network – they know that whether they’re sending or receiving funds internationally, the process will be fast and hassle-free.

Citi aims to help both multinational and local clients grow, thereby facilitating global investment

Vietnam is becoming a key link in global supply chains. How is Citi helping Vietnam integrate into global trade networks?

Citi plays a pivotal role in integrating Vietnamese companies into global supply chains. We often structure long-tenor loans needed for those capital investments. But equally important is helping local suppliers and exporters with their day-to-day working capital. We provide direct funding to local firms that are part of multinationals’ supply ecosystems.

In addition, our digital trade and treasury solutions support companies engaged in trade. We streamline everything from import/export financing to foreign exchange risk management, so clients can move goods and capital efficiently across borders. Citi is not only supporting our clients’ growth, but also contributing to Vietnam’s ascent as a key player in the global trade system.

What is Citi’s long-term commitment to Vietnam as the country’s global importance grows?

Our commitment to Vietnam is steadfast. We didn’t exit when we sold our consumer bank as part of our global strategy refresh; instead, we reinvested in our institutional franchise here. Citi remains deeply committed to Vietnam’s long-term success.

Vietnam’s global importance is growing – it’s poised to become one of the world’s top exporters and a major destination for investment. We intend to be here every step of the way. That means not just financing growth, but doing so responsibly. We’re here for Vietnam’s journey of growth for decades to come, ensuring that growth is sustainable and beneficial to all.

VIR