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| YBF Sponsorship |
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Citigroup Singapore Overview
Present in Singapore since 1902, the Citigroup franchise is deeply embedded in the local financial sector, as evidenced by the market leading positions it occupies in several business segments, including corporate and investment banking, consumer banking, wealth management and investment research.
Citigroup's Corporate and Investment Banking, Global Consumer Bank, International Personal Bank, The Citigroup Private Bank, Citigroup Wealth Advisors and Citigroup Investment Research are all leaders in their respective fields, contributing significantly to Citigroup's performance in Singapore.
Singapore is a key centre of excellence in Asia and a strategic hub for regional management, marketing, operations and technology expertise. It also plays host to Citigroup's state of the art processing and computer centres serving the transactional needs of Citibank branches in over 60 countries.
Singapore is also the host to our regional cash processing management unit, and our regional processing hub for securities services in the Asia Pacific. These processing units handles 40,000 transactions amounting to USD 20 billion a day, and an a daily average of 22,000 settlements respectively. Assets under custody for the region amount to USD 500 billion.
Citigroup's commitment to Singapore was rewarded in 1999 when it was amongst the first four foreign banks to be awarded the Qualifying Full Bank (QFB) Status by the Monetary Authority of Singapore (MAS).
In January 2005, in a move widely seen as re-affirming its long-term commitment to customers in Singapore and entrenching its presence in the market, Citigroup incorporated Citibank Singapore Limited as a wholly owned subsidiary. Together with a paid-up capital of S$1.5 billion, Citibank Singapore Limited holds the Full Bank License with Qualifying Full Bank privileges and oversees Citigroup's entire consumer banking business in Singapore. The decision to incorporate the consumer banking operations in Singapore comes as part of Citigroup's strategy to grow its international businesses. |
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