Citibank in Asia
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Code : COM0077
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Region : Asia
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Asian Banking - Unlocking the Potential Until the 1990s, Asian financial institutions were mostly state or family owned and the state regulated the domestic banking sector to protect the local banks. In Malaysia and Singapore, foreign banks were allowed to open only three branches, while it was two in Indonesia and one in Thailand. In the early 1990s, the beginning of the liberalisation era in Asia, the region was considered to be having the highest growth potential and by the mid-1990s, Indonesia, Malaysia, The Philippines, South Korea and Thailand together received $47.8 billion in loans from foreign banks. After the Asian economic crisis began in 1997, the capital inflow turned into an outflow of $29.9 billion... Citibank in Asia - The Growth Imperatives After its Asian entry in 1902 at various Asian ports, Citibank soon spread its operations in various Asian countries. Most of the customers of Citibank were wealthy Asians and cream of the middle class. Since the late-1980s, Citibank offered an array of financial products and services with an eye on consumer banking. "The image of Citibank in Asia is like that of BMW, and we're simply making the most of it," said Mike DeNoma, Regional Marketing Director for Consumer Services, Citibank. The deposits of Asian consumers grew by 6% to $13.6 billion and loans grew by 17% to $10.8 billion between 1983 and 1997... |
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