April 10, 2006
Citibank will open its first branch in Kaohsiung, Taiwan's second largest city, in April. The bank says a particular motive behind this move is its goal of providing better service to small and medium enterprises in southern Taiwan. Citibank has worked with Taiwan's small and medium enterprises for fifteen years now, making them as a group one of the bank's major profit sources in Taiwan.
Noting that Taiwan has upwards of two million small and medium enterprises, Citibank says that there remains a great deal of potential for the further development of financial services for this important market. The bank has seen its small and medium enterprise client base change with the transformation of Taiwan's industrial structure. Whereas most of its small and medium enterprise clients were previously traditional enterprises and manufacturers, now the majority are electronics companies.
Though Citibank's small and medium enterprise customers in Taiwan generate yearly revenues ranging from as low as a few million NT dollars to hundreds of millions, its target clients are those with annual revenues of
NTD 15 million or more.
Citibank points out that it offers a full range of financial services, including import-export financing, wealth management, assets management and investment banking services.
(United Daily News)
E-mail this page.
Invest in Taiwan
