Citibank to Enlarge Domestic Operations
American-based Citibank is planning to enlarge domestic operations in Korea by buying fifty or sixty branch offices from other banks.According to the Financial Supervisory Commission (FSC), Citibank indicated it will procure some of the branch offices that will be closed amidst Korea's large-scale bank restructuring.
At present, Citibank has 11 branch banks in Korea, the most among all other foreign banks. Since Citibank entered Korea, it has mainly focused on retail banking
It is known that Citibank has been planning to enlarge domestic operations to compete with Hong Kong-Shanghai Bank Corporation which acquired Seoul Bank.
with the Korea JoongAng Daily
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