Research has shown that vibrant economies and industries are driven by reliable and efficient banking services. Perhaps the big question should be, what makes an efficient and reliable bank.Technological innovation, in the form of improvements in communications and data processing is the cornerstone of efficiency.
Such interventions give banks opportunities to dramatically raise productivity and begin delivering many services through electronic means. An efficient bank also finds cost effective ways to introduce new products. One bank living up to these standards in South Africa is Citibank.
Citibank, the leading global bank has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services and wealth management.
Since 1995, Citi has enjoyed considerable success in the South African market. The bank has developed the expertise to understand and meet the unique requirements of South African customers, enabling customers to achieve business objectives. Citi’s offices are staffed with banking professionals who not only understand the local financial marketplace but also the strategic issues of global customers.
Citibanks business segments are divided into banking, transactional services and global markets.This is further broken down into products and services categorised into financial institutions, lending services, non presence countries, project and structured finance as well as treasury services.
On financial institutions, a team of relationship managers based in South Africa, help coordinate the more traditional range of trade and cash management needs for the network of financial institutional clients in South Africa. Lending services caters for working capital, asset and other financing requirements.The Non-Presence countries business is predominantly financial institutions such as central banks and sovereign corporate names such as national airlines, national marketing boards, oil companies, etc. Project and structured finance looks into things like cross border leasing and cross border securitisation. Treasury services are concerned with derivatives, fixed income securities, foreign exchange, money market and web based services.
Citibank can be contacted on 0119441000