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Citibank Korea

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Citibank Korea
Company typeSubsidiary
IndustryFinance
Founded1983; 41 years ago (1983)
HeadquartersSeoul, South Korea
Area served
South Korea
Number of employees
3,681 (2011)
ParentCitigroup[1]
Websitehttp://www.citibank.co.kr/

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

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. ^ "Citi | Asia Pacific | Korea". www.citigroup.com. Retrieved 2019-02-13.
  2. ^ Tae-hoon, Lee (18 March 2015). "Citibank, KEB receive most consumer complaints". The Korea Observer.
  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. ^ "Citigroup buys KorAm for $2.6 billion". msnbc.com. 2004-04-30. Retrieved 2019-02-13.
  5. ^ "Citi cuts 75% of South Korea branches as Western banks struggle in market". Nikkei Asia. Retrieved 2019-02-13.
  6. ^ "Citibank Korea to close 80% of its branches". The Korea Herald. 2017-04-13. Retrieved 2019-02-13.
  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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