Citibank Vietnam is a bank which set its first footprint in Vietnam in 1975, and then started up a representative office inHanoi in 1993.[1] A year later, Citi became the firstU.S. financial institution licensed for branch opening and full branch establishment in Hanoi a year later. Citi has two branches in Vietnam, one in Hanoi and one inHo Chi Minh City.[2]
On January 13, 2022, Citigroup announced that it will sell its consumer banking businesses in Vietnam, Malaysia, Thailand, and Indonesia toUnited Overseas Bank of Singapore.[3]
Citibank, N. A. is the primary U.S. banking subsidiary offinancial servicesmultinationalCitigroup.[4] Citibank was founded in 1812 as the City Bank of New York, and later became First National City Bank of New York.[5] The bank has 2,649branches in 19 countries.[6][7][8]
Citibank first opened a branch in Vietnam prior to 1975.[9][10] In 1993, Citi returned to Vietnam and established a representative office inHanoi.[11][12] A year later, Citi became the first U.S. financial institution to be granted a license to open a full-service branch inHanoi.[13][14][15] In 1998, Citi opened a second branch inHo Chi Minh City.[16][17][18]
Citi established its retail banking franchise in Vietnam in 2009[19] and in recent years, Citi's retail banking business has grown rapidly, with market share gains in key businesses such as credit cards, personal loans, cash withdrawals, and insurance. In late 2014, Citi launched its SME banking service inVietnam.[20][21][22]
Citi offers banking services including retail banking, corporate banking, investment banking and global transaction services, including trade and treasury services, and securities and fund services.
