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Citibank Korea () is a South Korean subsidiary of
Citigroup Citigroup Inc. or Citi (Style (visual arts), stylized as citi) is an American multinational investment banking, investment bank and financial services company based in New York City. The company was formed in 1998 by the merger of Citicorp, t ...
. Its core is the Korean-American Bank or KorAm Bank, founded in 1983 and acquired by Citi two decades later. Citibank Korea was named the worst bank in terms of consumer complaints by the Financial Supervisory Service (FSS) in 2015.


History

The Korean American (KorAm) Bank was founded in March 1983, as a joint venture in which
Bank of America The Bank of America Corporation (Bank of America) (often abbreviated BofA or BoA) is an American multinational investment banking, investment bank and financial services holding company headquartered at the Bank of America Corporate Center in ...
held 50.1 percent with the rest of the capital being shared between 13 major Korean companies. In 2003, KorAm Bank was acquired by Citibank.


Branches

Citibank Korea currently has ATMs available in all 134 of its branches, facilitating transactions with most international cards. However, starting in 2017, Citibank Korea has set a goal to reduce its branch network from 134 to 32 in the country.


Products & Services

Citibank Korea offers consumers and institutions a range of financial products and services, including
consumer banking Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking (corporate ba ...
. The company also offers credit cards in Korea.


See also

*
List of banks in South Korea This is a list of South Korean banks and the parenthesized number is the bank number. Central bank *Bank of Korea (001) Specialized banks Specialized banks are financial institutions established under a special act, not the Korean Banking Act. T ...


References


External links


Citibank Korea
Citigroup Banks of South Korea {{Asia-bank-stub