Arab Today, arab today citibank korea to downsize branches
Last Updated : GMT 12:34:44
Arab Today, arab today
Arab Today, arab today

Citibank Korea to downsize branches

Arab Today, arab today

Arab Today, arab today Citibank Korea to downsize branches

Seoul - XINHUA

Citibank Korea Inc., the South Korean unit of U.S.-based Citigroup Inc., said Tuesday that it plans to close or consolidate its branches operating across the country by 30 percent, a move seen to help beef up its falling profitability. The lender said the number of its branches will be reduced to 134 from 190. It also said it will focus on wealthy customers in Seoul and other major cities such as Busan, denying rumors that it would pull out of the country. The closure or consolidation of branches may lead to a cut in headcount at the lender, industry sources said. Citibank Korea logged a net profit of 219 billion won (US$208 million) last year, down 8.1 percent from a year earlier, mainly due to a fall in interest income and increased loan-loss reserve. Foreign banks such as Citi and Standard Chartered Bank Korea are suffering a fall in their presence in Asia's fourth-largest economy in the face of increased competition with bigger local players such as Woori Bank and Shinhan Bank.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today citibank korea to downsize branches Arab Today, arab today citibank korea to downsize branches

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today citibank korea to downsize branches Arab Today, arab today citibank korea to downsize branches

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today Sally Shaheen considers hosting a political show
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday