In 2017, Citibank Taiwan has invested heavily in consumer banking including wealth management, credit cards, digital services, and mobile payments. Citi is widely acclaimed by customers for its strong results and won “The Best Foreign Bank in Taiwan” award for the fifth consecutive year, given by the Wealth Biweekly magazine.
Citi Taiwan Country Officer Paulus Mok said: “Delivering remarkable client experience has always been Citi’s mission. Since it introduced the concept of wealth management services in 2001, Citi keeps emphasizing the four core values of wealth management – Advisory, Insights, Your Team, and Privileges. In 2017, Citi has unveiled a new mobile trading platform of foreign stocks/ETFs, remodeled existing branches into Smart Banking branches, and launched the brand communication program for wealth management to invite its clients to set their financial goals and achieve it through Citi’s advisory tool, Total Wealth Advisor (TWA). Those numerous investments show tangible results. In the third quarter, Citi’s wealth management business reached double-digit growth compared with the same period last year and the number of new Citigold Wealth Management accounts hit a 10-year high.”
Apart from solid results in the wealth management business, Citi’s card business also made great progress in digital services and mobile payments. After leading the pack in online application for new credit card customers via Taiwanese Citizen Digital Certificates, Citi’s credit cards are also linked to Taipei EasyCards. Meanwhile, Citi has not only supported Samsung Pay, but also updated the exclusive privileges of Citi Privileges Card. Citi’s outstanding performance in the consumer banking businesses is evident to everyone.
By the end of September this year, Citi’s credit cards activation rate achieved 85.3% ranking the first in the banking sector. In addition, Citi posted its consolidated EBIT of NT$9.5 billion in the first eight months of the year, up 23 percent from a year earlier. Furthermore, it reported an ROA and ROE level of 1.6% and 13.0%, far better than an average ROA and ROE of 0.70% and 10.16% in the financial industry, prove that Citi has stable overall operations.