SEOUL, June 22 (Korea Bizwire) — Citibank Korea Inc., the Korean unit of U.S. banking giant Citigroup, said Wednesday it signed agreements with KB Koomin Bank and Toss Bank to help its individual customers refinance their loans after closing its retail banking sector. Citibank Korea closed all new sign-ups for retail banking and financial services [...]
SEOUL, Aug. 24 (Korea Bizwire) — Citibank Korea Inc. has again postponed a decision on the exit plan for its retail banking unit amid differences over sale terms, industry sources said Tuesday. Citibank Korea, the South Korean unit of Citigroup Inc., had originally planned to hold a board meeting on Aug. 26 to determine how [...]
SEOUL, Aug. 30 (Korea Bizwire) — Banks in South Korea saw their financial health improve slightly in the second quarter of this year helped by modest gains in their profits, the financial regulator said Wednesday. The average capital adequacy ratio of 18 commercial and state-run banks stood at 15.37 percent as of end-June, up 0.23 [...]
SEOUL, Aug. 14 (Korea Bizwire) - Citibank will face disciplinary action after a leak of its “A+ Check Card” security data caused domestic card holders to suffer losses. The leak was traced to online payments service Paypal, which was hit by a BIN attack. Denoting the first six numbers of a check or credit card’s number, the [...]
SEOUL, Jul. 7 (Korea Bizwire) — Citibank Korea, the South Korean unit of Citigroup Inc., began shutting down five physical branches in the country Friday, as part of its plan to reorganize its operations, according to an industry source. Citibank has said it will drastically cut the number of its physical branches to 25 from [...]
SEOUL, May 18 (Korea Bizwire) – Citibank Korea, the local unit of U.S. banking giant Citigroup, said Wednesday that it will convert almost all nonregular workers on its payroll into regular employees by the end of this year. Citibank Korea said the beneficiaries include about 300 tellers and other workers with low wages, which account for 8.5 percent of its total staff. Bank CEO Park Jin-hei said the agenda to change [...]
SEOUL, April 14 (Korea Bizwire) – Citibank Korea, the South Korean unit of Citigroup Inc., said Thursday it will offer financial services via online channels while closing about 80 percent of its physical branches in South Korea. Citibank, which recently announced a plan to reduce the number of physical branches to 32 from 133 in the country, has said it won’t slash staff, despite ongoing restructuring measures. Instead, about 800 workers at the branches facing closure will be relocated to either [...]
SEOUL, Sep. 15 (Korea Bizwire) – Commercial banks are offering increasingly lower loan rates to take corporate customers away from rivals, resulting in the state of “negative spread.” According to a survey, as much as 44 percent of large-scale corporate loans has been provided with negative spread, with the volume estimated to have reached 180 billion [...]
SEOUL, June 4 (Korea Bizwire) - The bank with the highest number of complaints per every 100,000 customers was Citibank Korea last year. Among credit card companies, it was Hana-SK Card. As for the life insurance and property & casualty insurance industry, it was Woori Aviva Life and MG General Insurance. Tongyang Securities and Union Savings Bank [...]