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This post has been edited by Asgaard: Apr 15 2021, 09:26 PM

MALAS BABI

Selective investment only

The bank is exiting consumer operations in Australia, Bahrain, China, India, Indonesia, Korea, Malaysia, the Philippines, Poland, Russia, Taiwan, Thailand and Vietnam https://www.cnbc.com/2021/04/15/citigroup-c...gs-1q-2021.html

Exit China and Australia too?

There also cannot makan?

Wadepak, any Citi account holders here?

I haven't received any news from them, what happens to existing account holders?

Does retail banking include credit card? I just got a citi cc late last year. Won a ps5 sign up gift but no stock.

What'll happen to my Citi CB card?

Most likely Citi will sell it's CASA and loan book to other local banks

About time too.

Lucky already settled all outstandings with them.

China and Australia are dominated by very large local banking groups

those who work in citibank will get retrenched?

I was wondering too. I guess waiting which bank take over then ayam goina cancel all my citi cards.

In loving memory...

Kek, maresia gomen no welcome them.

Their prefer tage bank

Means my citibank card can't pakai anymore?

kesian /k tertipu

btm is citibank. above is citi group. lain2.

dunno if citi group is affected thou.

theirs CC is one of the profitable segment if not the most. it makes whoever hold it is a privilege.

Kenot. Pass to me, will help dispose and cancel your cc

puck ayam just wanna entertain the long awaiting CC marketer. looks like no

It’s real though. They are offering to replace with alternative gifts at the same value. Anyway I’m not a gamer so don’t really mind.

We have many tongsan banks incoming

Yeah their whole GCB business is being sold. Pretty much cards, mortgage, personal loans and wealth/deposits

Cukur dont have to pay my loan with citibank anymore

No need to pay balance.

who will buy malaysia 1? cimb? ambank?

Malaysia aims to be one of leading financial hub.. but at the same time banks are leaving the country

most likely Maybank.. Citi credit card business is lucrative to many

Fak dont cimb lah.

Bye2

Ambank ke arah kuasa dunia

CIMB or Maybank...............you know it

Banking hub? How?

ambank manada wang

case 1mdb already kena fined kaw kaw

summore ask more capital from jibby's brother

Inb4 customer fd belong to the bank haha

Who once said bank can stay in Malaysia forever? Lol

If any of these two, I will not hesitate to terminate my very first CC which has been with me since I first graduated

But not singapore. As expected.

good luck to the customer service for trying to charge me annual fee of over 600 a year.

beg him also he die2 want to charge - at most 50% reduced only.

then cancel baru sibuk dia punya boss nk call waive dn bagai.

Gg... No more indian food to eat in their food court...

tomorrow up up la maybank cimb all, less 1 competitor.

Because Singapore people rich not like Malaysia. Of course focus on the rich market first.

JANGAN PERSOAL SELECTIVE INVESTMENT!!

If owe cc money, need to pay or not?

China richer right? They exiting China

They are expanding in singapore..

https://www.citigroup.com/citi/news/2020/200929a.htm

Singapore – Citi will open its largest wealth advisory hub dedicated to Citigold and Citigold Private Client customers in Singapore in December 2020. Officially named Citi Wealth Hub at 268 Orchard, it will occupy an area of 30,000 sq. ft. across four floors at 268 Orchard Road, and have over 30 client advisory rooms, as well as flexible work and event spaces.

Targeting double-digit growth in market share and number of clients in the wealth segment over the next few years, the new wealth hub can house more than 300 Relationship Managers and Product Specialists. At the same time, the wealth hub will have built-in facilities to host bespoke lifestyle events for clients, investment seminars and more.

Cum on ..we supot commonwealth bank ..murica bank gtfo

Obviously not as rich as SG, UAE, London and Hong Kong customers considering Citi is exiting the other countries to focus on these 4 countries.

tutup jer lar

In Malaysia, where Citi has been in for more than six decades, Citi Malaysia Chief Executive Officer (CEO) Usman Ahmed assured that the move will not dilute the group's long-term commitment to the country or the Asia Pacific region. Citi has 10 branches in Malaysia — six in the Klang Valley, with one each in Johor and Melaka, and two in Penang, according to its website.

“With this strategic repositioning, we will be able to further invest our resources in significantly growing our institutional business in Malaysia, which spans across corporate and investment banking, commercial banking, markets (including equity brokerage) and treasury and trade solutions.

"In addition, our Citi Solutions Centers in Kuala Lumpur and Penang also remain an equally important operations hub for Citi, from where we execute millions of financial transactions worth over US$29 trillion annually for over 50 countries across the globe. There is no immediate change to our operations and no immediate impact to our colleagues as a result of today’s announcement by Citi to pursue an exit from our Consumer Bank business in Malaysia. We will continue to serve our Consumer Banking customers with the same dedication as we do today,” Usman said.

Citi Asia Pacific CEO Peter Babej added that the Asia Pacific region is an integral part of the group's global strategy, and a key driver of its growth and value proposition. “We will continue to invest in our network across the region and deliver Citi’s unique global capabilities to clients across all our markets,” Babej added.

so exit or no exit?

Wait.. so Citibank Credit Card how?

so what about the credit cards business? I am still having 370k citi miles

same. i still have 370k citi miles. that's about 15x return economy class to taipei

hsbc bila mau exit?

Mulut celupar

Jesus...what a shocking news. The CEO Jane Fraser just took over for 2 months and trim down consumer market now.

Quote "

The bank is exiting consumer operations in Australia, Bahrain, China, India, Indonesia, Korea, Malaysia, the Philippines, Poland, Russia, Taiwan, Thailand and Vietnam.

"unquote

TS missing the 13 countries above...According to https://www.cnbc.com/2021/04/15/citigroup-c...gs-1q-2021.html

“As a result of the ongoing refresh of our strategy, we have decided that we are going to double down on wealth,” Fraser said in the release. The move to focus on the remaining markets
“positions us to capture the strong growth and attractive returns the wealth management business offers through these important hubs.”

Citigroup lacked the scale to properly compete in the 13 markets it is leaving, she said. Investment banking operations will continue in markets where the firm is exiting consumer operations, the bank said.

Why is there more and more clickbait thread title?
Those who doesn't read confirm bite the bait.

RM0 Citi: The annual fee for your card ending 3376 has been waived for this year. Thank you for being a loyal customer, this one's on us!

Pandan muka!

I’ve been trying to apply for citibank simplycity credit card but got rejected twice.

I have good paymaster record though.

What is the real message then?

Used to have lunch at the food court. Nice food court there. Macam2 ada. Reasonable price

So only retail banking will cease la? Other banking services will remain.

Mostly can say bye2 to your new Ps5

Consumer operations includes the credit card business

It looks like Citi will only be for corporate and SME once they close the consumer channels

Usually retail banking are the one that hires most of the staff and where the presence are felt.

Investment bank don't need that many staff to bring in the big bucks.

Not really. Fulfilment is by ringgitplus, not citibank.

I only use their B2B services

Never tried their cc

Then.
Still got light end of tunnel. Good luck bro

Hmmm I understand what's on their mind. No point concentrate so much resources for peanuts. Go for the big hubs like SG, HK, London where the very wealthy of every country park their money.

Malaysia don't need them. We only want the best

Same. I have no idea why.

Had a short stint w citibank, quite stressful

The plan is to focus its non U.S. consumer banking operations on Singapore, Hong Kong, the UAE and London — places with a great concentration of wealth, according to Fraser.

Rip

yes include. cc is retail biz

exit the retail not exit the institutional

still its the main concern of everyone lo...credit card

So they will become like RBS, exist in malaysia but nobody knows they exist

so my citi miles all gone if they close the retail?

Thanks for all the airport lounge

my citi miles 370k gone. better convert to KF or asia miles?

hsbc also dying. staff sek bao mai bao.

Become like AIA exit? Sell it to Asian group and everything else status quo

Shit, time to redeem off all my accumulated reward points.... The reason I still kept my Citi card is because of the non-expiring points....

I’m Citibank Account & CC holder, I think if official they will send out notification 😒

Free money

How come 5 pages already still no finance expert kasi meaningful information to the situation?

What are the concerns we should have?

Come someone tag someone pls

/k: can no need to pay our cc already ar?

Citi CC always have good sign up benefits over at ringgitplus

Give u airpods etc

Sign up other bank CC gives u habuk only

basically citibank will become like RBS / RBC in malaysia

back office for institutional transactions/paperwork

they got existing dept doing that already in Jln Ampang

This post has been edited by sihamsedap: Apr 16 2021, 05:37 AM

No timeframe as of now, looking for buyers to get their consumer market clients, operations won’t be affected until the deal is closed.

Sorry to inform but The Citi Never Sleeps.

WTF! i just 2 scam over the midnight, from atome.

2 unauthorized transaction in my citi CC. immediate block it.

inb4 exiting to prepare for sanction

how to clear off outstanding?
i got rm400 on citi paylite
want to clear it

someone will need to buy tat portion.. if not wont change anything..

is not easy to close a bank in malaysia.

Tunasing.

US cumpanies are getting less and less competitive, and later blame chyna.

they scared another 1mdb in malaysia?