Citibank Vietnam
| Company type | Subsidiary |
|---|---|
| Industry | Banking, Financial services |
| Founded | 1975 |
| Headquarters | Hanoi , Vietnam |
Area served | Vietnam |
| Parent | Citigroup |
Citibank Vietnam initially entered the Vietnamese market in 1975 and reestablished its operations with a representative office in Hanoi in 1993. By 1994, Citi had become the first U.S. financial institution authorized to open a full-service branch in Hanoi. The bank currently runs two branches within Vietnam, situated in Hanoi and Ho Chi Minh City.
On January 13, 2022, Citigroup revealed its decision to divest its consumer banking operations in Vietnam, Malaysia, Thailand, and Indonesia to Singapore-based United Overseas Bank.
History
Citibank, N.A., the main U.S. banking subsidiary of the global financial services giant Citigroup, was established in 1812 under the name City Bank of New York. Today, it manages 2,649 branches across 19 countries.
Before 1975, Citibank had already opened a branch in Vietnam. After resuming its presence with a representative office in Hanoi in 1993, it obtained a license for a full branch the following year and later expanded by launching a second branch in Ho Chi Minh City by 1998.
In 2009, Citi introduced its retail banking services in Vietnam, quickly increasing its market share in areas such as credit cards, personal lending, cash withdrawal services, and insurance products. Towards the end of 2014, Citi expanded its offerings by launching SME banking solutions to strengthen its position within the Vietnamese market.
Products and services
Citi offers an extensive suite of banking products that includes retail banking, corporate banking, investment banking, and global transaction services encompassing trade finance, treasury management, securities services, and fund administration.
Digital wallet support
Credit cards issued by Citibank Vietnam are compatible exclusively with Samsung Pay; however, Google Pay and Apple Pay are not supported.
