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.
Citibank to exit consumer banking in Taiwan | Taiwan News
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Citi advocates gender equality and diversity
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4 foreign banks punished by central bank for forex speculation
02/08/2021 04:51 PM
CNA file photo
Taipei, Feb. 8 (CNA) Four foreign banks have been punished by Taiwan s central bank for helping companies speculate in the foreign exchange market as the Taiwan dollar was moving higher against the U.S. dollar, sparking an outcry among exporters.
In a statement Sunday, the central bank said it punished the four banks on Feb. 5 after finding through a bank exam in January that they helped grain companies engage with currency speculation through the trading of deliverable forwards.
Of the four Deutsche Bank, ING Bank, Citibank, and the Australia and New Zealand Banking Group (ANZ) the German bank faced the biggest penalty.