Citi has announced that it plans to open more South Korea desks this year to provide institutional banking services to South Korean multi-national clients in Viet Nam and across Europe.

Currently, Citi is operating South Korea desks in seven locations, including Shanghai, Beijing, Singapore, New Delhi, Moscow, London and New York, providing institutional banking services to Korean multi-national clients across Western and Eastern Europe, India, ASEAN, China, North America and Latin America. The bank plans to open more desks to serve Korean companies in key countries where they operate.

The new South Korea desks to be opened include one in Ha Noi in July and one in Prague, Czech Republic, in September. The financial services to be provided include corporate banking, investment banking, local debt raising, foreign exchange, cash management and trade finance.

“Our corporate clients are expanding their business worldwide based on their global competitiveness and strong brand awareness. The South Korea desk strategy is effective in successfully supporting the local needs of our Korean multi-national clients, along with Citi’s global network, and Citibank Korea’s strategy to reinforce support and investment for Korean multi-national clients is reflected in this expansion,” said MS Yoo, head of Corporate Banking for Citibank Korea.

Over the recent years, Citi has invested in building a network of Asia desks across the world to support companies in the local markets in which they operate. With a network of over 100 countries in the world, Citi has the local infrastructure and domestic knowledge to support these companies in markets across Europe, the Middle East and Africa, South America and North America.

The national desks have proved to be a strong foundation for Citi’s strategy of growing its business with Asian multinationals globally. It is an important competitive advantage for Citi. — VNS