Citibank Savings opens new home in Binondo

The Mid-Autumn Festival, or more commonly the Moon Festival, is one of the luckiest days of the year in the Chinese lunar calendar. It is only fitting then that Citibank launched its new Citibank Savings branch on this occasion at Binondo, Manila.

Citibank Savings was introduced a year ago to offer quality banking service to middle class Filipinos. It was envisioned to usher in world-class banking experience and a wealth of best-in-class products and services to benefit the growing market. "We want people to know that Citibank Savings is available for and accessible to the Filipino working class as evidenced by the easy account opening and maintenance requirements, relevant and innovative products, modern yet friendly branch premises, and the professional branch staff," declares Citibank Philippines country business manager and chairman of Citibank Savings, Mark Jones.

Since beginning operations, new territories like Kalookan City, Pasig City, and Parañaque, as well as Batangas, Dagupan City and San Pablo City in Luzon, Bacolod and Iloilo City in the Visayas, and Cagayan de Oro and Davao in Mindanao have welcomed Citi’s trademark red arc. "We have received very positive comments from customers and interested prospects," Jones shares.

Citibank Savings president Jeffrey Choa adds, "In the past few months, we have been opening Citibank Savings branches in various locations and we’re heartened with the warm welcome we receive in these communities. Customers have been very generous with their positive feedback, and when you hear comments like ’It’s about time you opened here’, we feel very gratified and are encouraged to do more — from designing products that will meet their lifestyle needs to providing top-notch services that they deserve."

Now open in Binondo, Citi’s global brand of service has come within easy reach of the growing Filipino-Chinese market. "We are very happy to make a new home in Binondo with Citibank Savings and be back here where it all started for Citibank," says Jones.

It was more than a century ago when Citibank first began its Philippine operations as the International Banking Corp. (IBC) at this very same site. On July 14, 1902, the bank set up shop in what was then a leased stable room where during times of flood, IBC would provide shelter to two ponies in a dry area located behind the vault. Of course, it actually rained on the first day of operations, and one of the landlord’s horses had to stay in the office. But this unusual arrangement didn’t stop customers from coming in and opening accounts with the bank — and the rest, as they say, is history.

Over the last century, Citibank has grown to become the country’s leading foreign bank which serves the financial needs of individuals and corporations. It is the preferred bank of leading companies and it also provides wealth management advise to the affluent. Citibank is an active partner in nation-building as well, and now, it takes on a new challenge with Citibank Savings as it aggressively pursues the middle-class market.

"We are able to serve more Filipino customers and make world-class banking truly accessible to them through Citibank Savings," Jones says. Lesley Co, Citibank Savings Binondo branch manager, observes that customers are drawn to the bank because they are assured of a high level of service and a choice of relevant deposit and investment products. "When we first opened our doors, many would come in to see the branch and they were very impressed with the interiors. They like the fact that we have a lounge and meeting areas where they can sit down with personal bankers to discuss their financial needs," she says.

Citi is known to put a premium on relationships and customers appreciate the chance to meet with an experienced financial planner. From the revolutionary Power Savings Account which only requires a low initial deposit yet extends higher interest rates to international access to ATMs to the 24-hour CitiPhone banking service, Citibank promises to bring the best of the world to the Philippines. And it starts at your nearest Citibank Savings branch.