Citibank Singapore
Encyclopedia
Citibank Singapore Limited is a division of Citibank N. A.
of the United States
and incorporated in Singapore
on 28 June 2004. It has Qualifying Full Bank status which was awarded to its parent on 20 October 1999, and the QFB status was transferred on the same day of its incorporation. The bank has a shared ATM network with HSBC
, RBS
, Standard Chartered and Maybank called atm5
.
The bank's headquarter is located at Millenia Tower
. The main branch is at Capital Square at 23 Church Street
. With the Qualifying Full Bank status, it can open up to 25 branches with up to 10 can be branches from 1 January 2005.
(MAS) in 1999.
Citibank's Global Consumer Group in Singapore has long been acknowledged in the industry for its people management practices, and has produced some of the country's most outstanding talents in the consumer banking industry. In recognition of its people development practices, the Global Consumer Group in Singapore was awarded the People Developer Standard by SPRING Singapore (Standards, Productivity and Innovation Board) in 2003. This is a national initiative to recognise and award outstanding people management practices in Singapore.
In June 2004, Citibank announced its move to incorporate a wholly owned subsidiary of Citigroup in Singapore, known as Citibank Singapore Ltd, with a paid-up capital of S$1.5 billion. This move comes as part of Citibank's strategy to grow its international businesses, and reaffirms the bank's long-term commitment to the Singapore.
The rising affluence of consumers in the last 20 years created new opportunities. Committed to helping consumers achieve their financial goals, Citibank established the Consumer Bank in 1982, to cater to the needs of individuals and small businesses.
Euromoney Awards:
Early 1990s:First phone banking service manned 24-hour round the clock by CitiPhone Officers.
June 2002:First Qualifying Full Bank (QFB)-licensed bank to offer the Visa global debit service.
July 2003:First in Singapore to introduce ‘cash-back’ feature through the Visa platform. Citibank Instant Cash allows customers who hold the International Citicard with the Visa point-of-sale debit feature, to withdraw funds from their Citibank account, when making purchase payments at retail locations.
January 1, 2005:First foreign bank to officially establish and incorporate a wholly owned subsidiary in Singapore – Citibank Singapore Ltd. Citibank Singapore Ltd holds a Full Bank License with Qualifying Full Bank privileges and with a paid-up capital of S$1.5 billion.
Citibank
Citibank, a major international bank, is the consumer banking arm of financial services giant Citigroup. Citibank was founded in 1812 as the City Bank of New York, later First National City Bank of New York...
of the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
and incorporated in Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
on 28 June 2004. It has Qualifying Full Bank status which was awarded to its parent on 20 October 1999, and the QFB status was transferred on the same day of its incorporation. The bank has a shared ATM network with HSBC
HSBC
HSBC Holdings plc is a global banking and financial services company headquartered in Canary Wharf, London, United Kingdom. it is the world's second-largest banking and financial services group and second-largest public company according to a composite measure by Forbes magazine...
, RBS
RBS
-Banking:* Royal Bank of Scotland - Scottish high street bank** Royal Bank of Scotland Group - A majority British state owned Scottish holding company, which owns Royal Bank of Scotland, NatWest and others-Defence:...
, Standard Chartered and Maybank called atm5
Atm5
atm⁵ is an interbank network in Singapore, connecting the ATMs of six of Singapore's eight qualifying full banks, with the non-participating QFBs being BNP Paribas and ICICI. , there are 143 atm⁵ ATMs island-wide...
.
The bank's headquarter is located at Millenia Tower
Millenia Tower
Millenia Tower is a , 41 storey skyscraper at Marina Centre in Singapore. The building is located in Millenia Singapore, and is the centrepiece of the development, less than 20 minutes from Changi International Airport...
. The main branch is at Capital Square at 23 Church Street
Church Street
-Streets:* Church Street, Liverpool, England, United Kingdom* Church Street , New York City, New York, United States* Church Street, Melbourne, Victoria, Australia* Church Street , England, United Kingdom...
. With the Qualifying Full Bank status, it can open up to 25 branches with up to 10 can be branches from 1 January 2005.
Citibank in Singapore
Citibank's Global Consumer Banking division began banking operations in Singapore in 1982. Although a relative latecomer to the retail-banking sector, the bank has grown into a formidable market player with major market share in key businesses including unsecured lending, deposits and investments and secured assets. Citibank was among the first four foreign banks to be awarded the Qualifying Full Bank (QFB) license by the Monetary Authority of SingaporeMonetary Authority of Singapore
The Monetary Authority of Singapore is Singapore's central bank and financial regulatory authority...
(MAS) in 1999.
Citibank's Global Consumer Group in Singapore has long been acknowledged in the industry for its people management practices, and has produced some of the country's most outstanding talents in the consumer banking industry. In recognition of its people development practices, the Global Consumer Group in Singapore was awarded the People Developer Standard by SPRING Singapore (Standards, Productivity and Innovation Board) in 2003. This is a national initiative to recognise and award outstanding people management practices in Singapore.
In June 2004, Citibank announced its move to incorporate a wholly owned subsidiary of Citigroup in Singapore, known as Citibank Singapore Ltd, with a paid-up capital of S$1.5 billion. This move comes as part of Citibank's strategy to grow its international businesses, and reaffirms the bank's long-term commitment to the Singapore.
History of Citibank Singapore
Citibank first established its operations in Singapore on 1 July 1902. It was then known as the International Banking Corporation (IBC) and was the first American bank to set up a branch in Singapore. Located at 1 Prince Street, IBC was primarily involved in the trade financing of Malayan rubber and tin exports in the early twentieth century.The rising affluence of consumers in the last 20 years created new opportunities. Committed to helping consumers achieve their financial goals, Citibank established the Consumer Bank in 1982, to cater to the needs of individuals and small businesses.
Euromoney Awards:
- Best Bank in Singapore (2008–2009)
- Best Bank in Asia (2009)
Industry Milestones by Citibank Singapore Ltd. Global Consumer Group
1980s:Citibank ATM - First to popularize ATM banking in Singapore.Early 1990s:First phone banking service manned 24-hour round the clock by CitiPhone Officers.
June 2002:First Qualifying Full Bank (QFB)-licensed bank to offer the Visa global debit service.
July 2003:First in Singapore to introduce ‘cash-back’ feature through the Visa platform. Citibank Instant Cash allows customers who hold the International Citicard with the Visa point-of-sale debit feature, to withdraw funds from their Citibank account, when making purchase payments at retail locations.
January 1, 2005:First foreign bank to officially establish and incorporate a wholly owned subsidiary in Singapore – Citibank Singapore Ltd. Citibank Singapore Ltd holds a Full Bank License with Qualifying Full Bank privileges and with a paid-up capital of S$1.5 billion.