Citi Malaysia assures customers consumer banking operations remain normal

Citi Malaysia assures customers consumer banking operations remain normal
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KUALA LUMPUR (April 21): Citi Malaysia has assured its Malaysian customers that its consumer business operations and offices will continue to operate as normal to serve and support clients.

It had been reported last week that Citigroup Inc is exiting retail banking in Malaysia, alongside 12 other markets across two regions, Asia and Europe, the Middle East and Africa (EMEA).

The move is part of an ongoing strategic review, under which its chief executive officer Jane Fraser said the group has "decided that we are going to double down on wealth", by directing investments and resources to the businesses where it has the greatest scale and growth potential.

In a statement today, Citi Malaysia consumer business manager Elaine Fan assured all credit card and bank account holders, and customers in investments and loans that all Citi’s existing products and services will continue normally and there will be no change in the level of service.

“All branches, ATMs, call centres and offices, will continue to operate as they do today.

“Customers can continue to conduct transactions or service inquiries through the Citi Mobile App, Citibank Online and CitiPhone. This will remain the case until we notify customers of any changes in the future,” she said.

Fan said Citi’s consumer business in Malaysia has made significant progress over the past few years in its pursuit of client excellence, leadership in wealth management, credit cards and digitalisation.

Meanwhile, Citi Malaysia CEO Usman Ahmed said the bank’s new chapter in Malaysia will protect the interests of and minimise the impact on its customers, employees and other stakeholders.

“We will provide further timely updates when we have details to share but we want to reassure that our priority remains on serving the banking needs of our customers and clients,” he said.

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Citi to exit retail banking in 13 markets across Europe and Asia — including Malaysia