Citibank Korea Explained

Citibank Korea (ko|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. Web site: Citi Asia Pacific Korea. www.citigroup.com. 2019-02-13.
2. News: Tae-hoon . Lee . Citibank, KEB receive most consumer complaints . The Korea Observer . 18 March 2015.
3. Web site: Citigroup to Acquire KorAm Bank for KRW 3.18 Trillion -$2.73 Billion-*. 2004-02-23. www.businesswire.com. en. 2019-02-13.
4. Web site: Citigroup buys KorAm for $2.6 billion. 2004-04-30. msnbc.com. en. 2019-02-13.
5. Web site: Citi cuts 75% of South Korea branches as Western banks struggle in market. Nikkei Asia. en-GB. 2019-02-13.
6. Web site: Citibank Korea to close 80% of its branches. 2017-04-13. The Korea Herald. en. 2019-02-13.
7. Web site: Citibank Korea Plans to Close 80% of Branches, Triggering Employees’ Protest. 2017-04-13. 비즈니스코리아 - BusinessKorea. ko. 2019-02-13.

External links

• Citibank Korea