Citibank China has announced that it has launched renminbi services for Chinese corporates and residents in the province of Guangzhou, as well as an investment linked-insurance offering. The group also revealed that it has opened a new consumer outlet in the region.
<p>Citibank's second consumer banking outlet in Guangzhou is a full service outlet, providing both foreign currency and renminbi products and services to Chinese residents. <br /><br />The outlet offers Citibank and CitiGold services. Customers using the Citibank service, which requires a minimum balance of RMB80,000 or above, will be provided with a choice of a comprehensive range of services to manage their wealth, including savings and investment products, such as the multi-currency deposit, flexible time deposit, premium account and structured investment account.<br /><br />Meanwhile, the CitiGold wealth management offering requires a minimum balance of RMB800,000 or more. Citigold customers in Guangzhou will now be able to enjoy an expanded range of Citigold services with the launch of Citigold global access and Citigold wealth planner. <br /><br />Furthermore, the bank has launched a new investment-linked insurance product in Guangzhou. Offered jointly by Sino-US MetLife Insurance Company and Citibank, the wealth selected protection plan is designed to act as an investment vehicle, allowing customers to invest capital while enjoying financial protection, supported by funds solutions from fund management companies.<br /><br />The expansion of our Citigold offering in Guangzhou and the launch of the new investment-linked product with MetLife is an outcome of our commitment to deliver the very best products to our customers and to provide a superior customer service experience. The opening of new outlets such as Guangzhou Huanshidong will enable increasing numbers of customers to enjoy these benefits, said Anand Selva, executive vice president of Citibank China.</p>