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Banking & Finance

Citi celebrates 25 years in Vietnam

Released at: 17:08, 04/10/2019

Citi celebrates 25 years in Vietnam

Photo: Citi Vietnam

Special client events held in Hanoi and HCMC to celebrate milestone.

by Doanh Doanh

Citi organized two special client events on October 2 and 3 in Hanoi and Ho Chi Minh City to celebrate its 25th anniversary in Vietnam.

“When Vietnam introduced its ‘Doi Moi’ policy and began its integration into the global economy, the country really needed a financial market integrated with the world,” said former Governor of the State Bank of Vietnam (SBV) Cao Sy Kiem. “We had a strategy to accelerate economic integration by opening up the market to foreign banks, and Citi was the first US bank licensed by the Vietnamese Government.”

Citi opened a representative office in Hanoi in 1993. One year later, it became the first US financial institution licensed to open a full branch, in Hanoi. And in 1998, it opened a second branch in Ho Chi Minh City.

“All of us here today are invested in Vietnam’s success, and I look forward to continued collaboration towards our common goal of a strong, prosperous, and independent Vietnam,” US Ambassador to Vietnam H.E. Daniel Kritenbrink in his keynote address. He also acknowledged Citigroup’s role in improving business conditions and fostering economic development in Vietnam. “The work of Citi Vietnam - and many other US companies - has played a major role in strengthening the overall relationship between Vietnam and the US,” he said.

“We are delighted to know that over the past 25 years, Citi has expanded its leading role in the institutional and consumer businesses in Vietnam,” Dr. Nguyen Kim Anh, Deputy Governor of the SBV, said after the handover of the Governor’s Flag of Honor and Outstanding Bank Award to Citi Vietnam. “Serving as a trusted financial partner to the country’s top private groups and State-owned enterprises as well as multinational corporations, Citi has been driving the largest and most successful capital market transactions in Vietnam.”

Citi has retained its leadership in technology, providing an extensive platform across online and mobile banking. With these comprehensive digital capabilities, Citi Vietnam became the first globally to accomplish the milestone of 100 per cent penetration of e-statements for clients. As testimony to the quality of Citi’s value propositions, its consumer credit cards registered a prestigious #1 Net Promoter Score (NPS) result in 2018 and 2019.

“Citi Vietnam is one of the fastest growing franchises for Citi globally,” said Citi Country Officer (CCO) Natasha Ansell. “We focus on our clients. Being the best for our clients is our number one mission. Our teams both in the country, regionally, and globally will continue to invest in making sure that Citi Vietnam delivers top class services to clients. We look forward to the next 25 years and beyond in this wonderful country.”

Dr. Kim Anh and Ambassador Kritenbrink joined the event at the Melia Hotel in Hanoi and delivered keynote addresses. US Consul General Marie Damour delivered a speech in Ho Chi Minh City. Citi ASEAN Head and CCO for Singapore Amol Gupte and Ms. Ansell hosted the ceremonies.

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