Citibank Launches Five Branches In Causeway Bay, Targets The Emerging Affluent

Vanessa Doctor

5 April 2011

Citibank has announced the launch of five branches and a new credit card promotion at the highly-visited Causeway Bay area in Hong Kong.

The new branches include one in Sogo, one in Times Square, and one international personal banking center. Causeway Bay is a key commercial and leisure area that is frequented by both local residents and overseas travellers.

The changes are in line with a new value proposition the bank is implementing for the emerging affluent market, which includes extended branch hours, 24/7 phone banking hotlines, a full suite of global banking services, dedicated personal bankers and preferential pricing for clients with over HK$200,000 in balances.

"Emerging affluent clients are aspirational and want a banking partner that suits their lifestyles based around digital banking, with the ability to bank when, where, and how they want. This completes our wealth management offering for the entire continuum, serving clients at different life stages and with different wealth pools across the region," Jonathan Larsen, regional head of consumer banking for Citi Asia-Pacific, said in a statement.

In April, the company is also set to introduce a new mega-promotion in the area, which will increase its touch points to more than 250.

Citibank presently has 49 branches and over 150 ATMs in Hong Kong.