Citi Expands Branch Network in China, Opens in Chongqing

Chongqing, December 10, 2009 - Citibank (China) Co., Ltd. (“Citi China today officially opened its Chongqing branch, its ninth in China. The branch offers banking and wealth management services to both corporate and individual customers in and around Chongqing. A ceremony was held to mark the occasion, attended by Mr. William R. Rhodes, Senior Vice Chairman, Citigroup, and Senior Vice Chairman, Citibank, Mr. Andrew Au, Chairman of Citibank (China) Co., Ltd., Mr. Huang Xiaoguang, President of Citibank (China) Co. Ltd., Mr. Anand Selva, Executive Vice President of Citibank (China) Co. Ltd., as well as local government officials of Chongqing.

Mr. William Rhodes said, “Citi has an unmatched international presence in financial services, and China remains one of our priority markets. We are committed to continuing to invest in China over time, and we are delighted to be opening a branch in the city of Chongqing.

Mr. Andrew Au said, “Citi is proud to be extending our network to Chongqing with a world-class branch. Looking ahead to 2010, Citi will continue to build out our business in China across a wide array of areas as we continue to play an active role in the ongoing growth and development of China’s financial services sector.

The Chongqing branch offers a wide range of RMB and Foreign Currency products and services to multinational and local companies, Chinese residents and foreign nationals.

Corporate banking services include cash management, trade finance and services, loans and syndication, FX transactions, project finance and structured finance and other financial products.

The consumer outlet in Chongqing has been designed to cater to the changing needs and lifestyles of Citibank customers. Key attributes include:

• Wi-Fi enabled the outlet is fully Wi-Fi enabled, allowing customers to go online while inside the outlet using their mobile devices (laptop, cell phone, PDA, etc).
• Internet kiosks dedicated and state-of-the-art complimentary kiosks are available for customers to browse the Internet.
• Touch screens a number of interactive touch screens are available that enable customers to easily view at their own leisure Citibank’s latest product and service offerings, latest news relating to Citibank, and a range of other information at the touch of a finger.
• Live interactive video phones customers seeking additional expert opinion in relation to a particular financial need have the ability to consult with Citibank China specialists at another location on a real time basis using video phones.
• Wallboard screens and Tablet PCs wall board screens ensure an uncluttered working environment and a more interactive customer service experience allowing customers to see everything their personal banker sees. In addition, wireless tablet computers provide added convenience, mobility and flexibility during customer interactions.
• Interactive multimedia High resolution LCD TV integrated media contents of CBN news, latest Citibank product & service posters and text lively updated via centralized media content management system.
• Soft phones the sub-branch uses wireless phones for all staff while providing complimentary use of mobile phones for its customers.
• Mobile Payment Citi China is the first bank in Chong Qing to offer the 3rd generation mobile payment services via its Renminbi debit card. In practice, this will allow cardholders to use their mobile phone to conduct a range of transactions in connection with their debit card including checking the debit card’s balance via the phone, and making payments for various products, as well as mobile phone top-up. It is offered in cooperation with CUP Chong Qing.

Mr. Anand Selva, Executive Vice President, Citibank (China) Co. Ltd., said, “The Chongqing outlet will house the largest retail banking team in China, and its high-technology capabilities will provide Citibank customers with a superior banking experience. Its opening reflects our intent to be the most innovative, customer-focused international bank in China.

The new outlet is a full service one, providing foreign currency and RMB products and services. Like all other Citibank retail outlets in China, the new outlet offers both Citibank and Citigold services. Customers using the Citibank service, which requires a minimum balance of RMB80,000, will be provided with a choice of a comprehensive range of services to manage their wealth. Services provided include savings, deposits and investment products (including Premium Accounts, Structured Investment Accounts and QDII products); as well as ATM/debit cards. Customers can also conduct their banking at their convenience through the multiple electronic channels such as online banking, mobile banking, 24x7 phone banking and fax banking.

The outlet also features a Citigold Service Center, designed to provide leading wealth management services. The Citigold offering, which requires a minimum balance of RMB500,000, is distinguished by factors that include:

• Dedicated relationship managers supported by a team of product specialists
• Personalized banking products and services
• Access to award winning global research, market outlook, latest financial developments and dedicated information channels
• Unique proprietary tools such as Citigold Financial Needs Analysis
• Membership rewards and privileges
• Citigold customers also benefit from Citi’s global presence with worldwide Citigold VIP recognition, courtesy access to world wide Citigold centers, overseas account opening referral, overseas emergency cash up to USD10,000, overseas Citigold preferential FX rate and fee charge, worldwide toll-free home connection service hotline and Citigold International SOS Healthcare Services, etc.

The new sub-branch will also be Citibank’s second retail outlet in China to be submitted for LEED (Leadership in Energy and Environmental Design) certification. LEED is an internationally recognized green building certification system, providing third-party verification that a building was designed and built using strategies aimed at improving performance across all the metrics that matter most: energy savings, water efficiency, CO2 emissions reduction, improved indoor environmental quality, and stewardship of resources and sensitivity to their impacts.

The Chongqing branch houses thirteen corporate bankers and thirty-six retail banking professionals. The Chongqing Branch is located at 1F, 2F and 18F of International Trade Center, No. 185 Zhong Hua Road, Yu Zhong District, Chongqing, P.R.C.

“Our team in Chongqing is committed to delivering the very best in banking and wealth management services to local companies and retail customers as Chongqing continues to rise as a key center of commerce and industry in China," said Ms. Mao Feng, Chongqing Branch Manager.