An article in the Korea Times takes a look at Citibank Korea.

‘Korea Is Core Market for Citi’

“Korea is the core of our Asia growth strategy. Our commitment to the development of our Asia franchise is stronger today than at any other time in our 42-year history in Korea,”

Stephen Bird the Asia-Pacific chief executive of Citigroup told The Korea Times in an e-mail interview, continuing -

Stephen Bird, Director, Citibank Korea (Source: Korea Times)

that he “absolutely” agrees that South Korea has the potential to become a financial powerhouse.

“It has emerged from the global financial crisis faster than other countries and is now focused on becoming a financial hub in Northeast Asia. Also, Korea, as a leader in the G-20 and host of the G-20 meeting in November, is expected to play a critical role in fostering sustained global growth,” he said.

“In terms of growing the business, our focus has always been on organic growth but we will consider inorganic expansion if necessary,”

About Citibank Korea –

Citibank Korea was formed November 1, 2004, after Citigroup became the first foreign bank to acquire a South Korean bank, when it acquired KorAm Bank for KRW 3.18 trillion (US$2.7 billion).

Citi Korea includes Citigroup Global Markets Korea and Citi Capital Korea and has businesses representing the Markets & Banking group, Global Consumer Group, and Citi Private Bank.

Citi Korea, has over 6,000 employees and 299 consumer branches, offering transactional banking, treasury and risk management instruments, loans syndication, capital markets expertise, and credit cards and wealth management.

(Source: Korea Times, Reuters, Citibank Korea website)