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DBS Bank only foreign lender to see profits grow

DBS Bank only foreign lender to see profits grow By Kao Shih-ching / Staff reporter DBS Bank Taiwan’s (星展台灣) pretax profit rose 78 percent from a year earlier to NT$941 million (US$33.47 million) last year, the only foreign bank reporting profit growth for last year, Financial Supervisory Commission data showed on Tuesday last week. A low companion base the previous year, more income from fees in its wealth management business and a reduction in operational expenses contributed to its rising profit, the commission said. In comparison, Citibank Taiwan Ltd (花旗台灣) had pretax profit of NT$9.7 billion last year, down 33 percent year-on-year and the lowest in five years, the data showed.

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Citibank assures card holders business as normal before planned exit

Citibank assures card holders business as normal before planned exit 04/16/2021 09:07 PM CNA file photo Taipei, April 16 (CNA) Retail customers at Citibank Taiwan, primarily its more than 2 million credit card holders, will not be impacted before the company finalizes its exit from the local consumer finance business, the bank said Friday. Citibank Taiwan s statement came a day after Citigroup announced a plan to reduce its retail banking business presence in 13 markets across Asia, Europe, the Middle East and Africa. Citigroup said it will maintain its corporate finance and investment banking businesses in Taiwan, along with 12 other markets Australia, Bahrain, China, India, Indonesia, South Korea, Malaysia, the Philippines, Poland, Russia, Thailand and Vietnam.

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Citibank seeks to reassure customers

Citibank seeks to reassure customers RETAIL BANKING EXIT: Clients are concerned whether their rights would be protected, while employees were caught by surprise as the bank had just upgraded its services By Kao Shih-ching / Staff reporter Citibank Taiwan Ltd (花旗台灣) yesterday said that credit card clients could continue using their cards as operations would continue normally until it sells its consumer banking business. As of February, the bank had 2.86 million credit cards in circulation in Taiwan, of which 2.17 million had been used in the past six months, ranking it sixth among all banks, data from the Financial Supervisory Commission showed. Credit card spending by Citibank clients totaled NT$15.66 billion (US$552.6 million) in February, also ranking sixth among banks in Taiwan. Citibank was the only foreign bank that made it into the top six.

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Citibank to exit consumer banking in Taiwan | Taiwan News

Citibank to exit consumer banking in Taiwan | Taiwan News
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Citi advocates gender equality and diversity

Citi advocates gender equality and diversity
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