Citibank Philippines

Citibank Philippines

Founded	1991
Headquarters	Eastwood City, Quezon City, Metro Manila, Philippines

Citibank Philippines is the Philippines chapter of Citibank. Since its establishment in 1902, Citibank Philippines has played a central role in shaping the financial infrastructure and development of the country.

History

Citibank first started up in the Philippines in 1902, when the International Banking Corporation opened its first branch in Manila. Currently, Citibank is the largest commercial bank in the Philippines.^[1]

Company profile

Citigroup Philippines has 4,200 employees, mainly drawn from the local population. At present, Citibank Philippines has 6 branches, namely at Makati, Greenhills, Libis, Binondo, Alabang, and Metro Cebu; and 22 branches for Citibank Savings.

^[2]

Citibank Philippines has 1.2 million credit cardholders.^[3]

Citibank Philippines and Citibank Savings Bank are also members of BancNet, the largest ATM network in the country.

Time line

2004 - Citibank Named Philippines' Best Consumer Internet Bank.
2005 - Citibank Named Philippines' Best Consumer Internet Bank.
2006 - Citibank Named Philippines' Best Consumer Internet Bank.
2007 - The Reader’s Digest awards Citibank as the best bank for investment advice.
2008 - Best Cash Management Bank, Best Foreign Investment Bank and Philippines' Best Consumer Internet Bank.
2009 - Citibank Named Philippines' Best Consumer Internet Bank, Named Best Foreign Bank in the Philippines by Alpha Magazine.
2010 - Citibank Named Philippines' Best Consumer Internet Bank. Named Best Corporate/Institutional Internet Bank in the Philippines. Named Best Foreign Bank in the Philippines by Alpha Magazine.

^[4]

Awards

Manila - Asset Magazine awarded Citi in the Philippines with twin recognitions during the annual Asset Asian Awards Dinner held in Hong Kong on January 15, 2009.

Citi Philippines won Best Bank for the fifth consecutive year, and Best Foreign Investment Bank for the second consecutive year. Citi also bagged Best Small-Cap Equity Issue as Joint Bookrunner for the San Miguel Brewery IPO.

Products and services

Wealth management

Citibank is the first bank in the Philippines to offer wealth management services, Citibank tapped into the rich vein of newly wealthy Filipinos who emerged as a result of the country’s economic boom in the early to mid-1990s. Through its Citigold Wealth Management Banking proposition, Citibank has cornered the lion’s share of the market,gwith sectorial experts who aid clients to pick their way through the reams of market information available and to make optimal choices. Citigold has been awarded in the Reader’s Digest Asia Trusted Brand Poll for two consecutive years.^[5]

SMS banking

In 2008 Citibank began offering mobile phone banking, so that Filipino cardholders could make credit card charges via text message or phone calls. Two-way SMS is Citibank’s latest mobile phone-based service. It allows cardholders to send Citi a text message inquiring about their available credit balance, amount due and payment due date. It also allows users to order food, flowers, mobile recharges through and can order prepaid Internet load (from Blast)sms. Cardholders can also pay their bills for Globe postpaid plans. SMS banking is available to more than one million credit cardholders.

Citibank are the first to offer this service on a credit card.^[6]

Citibank’s latest credit card campaign, the "Citibank Free GreenBag promo" supports recycling and environmental protection in the Philippines.

Citibank Philippines also provides its clients with the usual facilities of bank loans, credit cards, deposit accounts, wealth management schemes and investment options.

Corporate social responsibility

Citibank Philippine encourages the clients of Citigold, its wealth management service, to take part and do their share in saving the environment.

External links

• http://www.citibank.com.ph/
• http://www.mytopdozen.com/Best_Banks_of_the_Philippines.html

References

1. ^ [1] Citibank website
2. ^ [2] Citibank Website
3. ^ [3] United World USA
4. ^ http://www.theasset.com.hk/TBA2008.pdf Asset Awards
5. ^ http://www.unitedworld-usa.com/reports/philippines2008/citibank.asp Citibank Wealth Management
6. ^ http://www.philstar.com/Article.aspx?articleId=440639&publicationSubCategoryId=82 Citibank SMS Banking

• http://www.questia.com/library/book/booty-capitalism-the-politics-of-banking-in-the-philippines-by-paul-d-hutchcroft.jsp
• http://www.adb.org/documents/books/rising_to_the_challenge/philippines/2-philbnk.pdf