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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.

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.

Citibank to exit consumer banking in Taiwan | Taiwan News

Citibank to exit consumer banking in Taiwan | Taiwan News
taiwannews.com.tw - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from taiwannews.com.tw Daily Mail and Mail on Sunday newspapers.

4 foreign banks punished by central bank for forex speculation

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.

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