History

Citi started operations in Thailand as early as 1967, when it began with a 50% equity stake in the Bangkok First Investment Trust

Investment trust

An Investment trust is a form of collective investment found mostly in the United Kingdom. Investment trusts are closed-end funds and are constituted as public limited companies....

. In 1989 the First National City Finance was initiated. Later in 1984, Citibank Thailand obtained a full banking licence when it acquired the Mercantile Bank. On November 1, 1985, Citibank was formally registered in Thailand.

Company profile

With an employee strength of over 2600, Citibank Thailand has grown to serve more than a million customers countrywide. Their Financial Statements

Financial statements

A financial statement is a formal record of the financial activities of a business, person, or other entity. In British English—including United Kingdom company law—a financial statement is often referred to as an account, although the term financial statement is also used, particularly by...

 show that Citibank is currently the largest foreign bank

Bank

A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...

 in Thailand when measured by deposits and assets. Currently, the head office of Citibank Thailand is located on Sukhumvit Road, and it operates under the name of Citibank, N.A.

Time Line

1982 - Citigroup acquires the Diners Club

Diners Club

Diners Club International, founded as Diners Club, is a charge card company formed in 1950 by Frank X. McNamara, Ralph Schneider and Matty Simmons...

 franchise, including Diners Club (Thailand) Ltd.

1984 - Citibank acquires the Thailand branch of Mercantile Bank.

1985 - Citibank opens its first Citibank Bangkok Branch.

1986 - CitiCapital Ltd. set up to provide investment and venture capital

Venture capital

Venture capital is financial capital provided to early-stage, high-potential, high risk, growth startup companies. The venture capital fund makes money by owning equity in the companies it invests in, which usually have a novel technology or business model in high technology industries, such as...

 and corporate finance

Corporate finance

Corporate finance is the area of finance dealing with monetary decisions that business enterprises make and the tools and analysis used to make these decisions. The primary goal of corporate finance is to maximize shareholder value while managing the firm's financial risks...

 advisory.

1987 – Establishment of Citicorp Leasing (Thailand) Ltd., in the consumer finance business.
. Now operates over 45 branches across Thailand under the Citiadvance brand with a market leadership posisition.
2000 - Citicorp Securities (Thailand) Ltd receives a license to undertake securities business.

2008 - Citi Thailand named the Best Foreign Commercial Bank

Commercial bank

After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...

 in the country by FinanceAsia.

2008- Citi Thailand named best Corporate/Institutional Internet Bank

Online banking

Online banking allows customers to conduct financial transactions on a secure website operated by their retail or virtual bank, credit union or building society.-Features:...

 and Best Consumer Internet Bank by Global Finance

Global financial system

The global financial system is the financial system consisting of institutions and regulators that act on the international level, as opposed to those that act on a national or regional level...

 magazine

2008 - Citi Thailand voted best Foreign Cash Management

Cash management

In United States banking, cash management, or treasury management, is a marketing term for certain services offered primarily to larger business customers...

Bank by Asiamoney’s Regional Cash Management Poll

2008 - Citi Thailand named best Corporate/institutional Internet Bank in Thailand by Global Finance

2008 - Best Overall Domestic Cash Management Services for small, medium and large corporations

2008 - Best Overall Cross-Border Cash Management Services for small, medium and large corporations.

2008 - Best International Trade Bank in Thailand.

Products and services

Citibank Thailand offers services to individual consumers and business houses on investment and private banking. Their major offerings to business houses include foreign exchange, trade finance, cash management, custodian services, lending, securitization, and capital markets.

Key people

Mr. Peter Eliot, Citi Country Officer and Head of Institutional Client Group in Thailand

Mr. Pradeep Pant, Country Head - Consumer Markets Thailand, Citibank, N.A.

Sponsorship and CSR

Citi Thailand follows key priorities of Citi’ s Citizenship namely Microfinance, Environment, Financial Education, Youth Education, Disaster Response and Workplace. From 200-2007, Thailand got grant support from Citi Foundation worth US$ 1,364,008 (approximately 53.5 million baht) contributing to various community development programs. Since 2006, hundreds of employees plus families and friends enthusiastically participated in Citi’s annual “Global Community Day”