As another sign of the growing presence of international banks and the stronger influence of the Asian market, Citigroup begins its retail operations in Vietnam by opening its first branch in the country’s capital, Ho Chi Minh. It aims to provide both deposit and remittance services.
Shirish Apte, chief executive of Citi Asia Pacific, said: “We believe in Vietnam’s future and are committed to continue to invest here and actively participate in Vietnam’s economic growth.”
Citi is also planning to double the number of its ATMs in Ho Chi Minh City to 13 by the end of the year. It has provided corporate and investment banking services in Vietnam since 1993.
Well, good job.
Report courtesy of the FT.