Working at Citibank Singapore: Company History, Culture, Benefits, and Leadership
Citibank was founded in 1902, today, it has transformed into a comprehensive full-service bank in Singapore, serving a wide range of clients with different backgrounds. The key to their success is their talented and diverse pool of employees who played a pivotal role in upholding the bank as a leading global financial services company. In this blog post, Aniday will provide you with insights into Citibank’s history, culture, benefits and leadership.
General Information
Since 1902, Citi has expanded its presence in Singapore to become a comprehensive full-service bank. It caters to a diverse clientele, including consumers, corporations, governments, and institutions, offering a comprehensive range of financial products and services.
On a global scale, Singapore holds strategic importance for Citi, serving as a significant hub. The country hosts various regional and global client coverage and product units, and it is a key location for numerous Asia and ASEAN leadership teams.
The Changi site, home to the Citi Solutions Center (CSC) and one of two cybersecurity fusion centers worldwide, also accommodates our bank's Operations and Technology (O&T) function. This unit ensures round-the-clock support for our businesses in Singapore and throughout the region.
Company History
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Citibank initiated operations in Singapore on July 1, 1902, as the International Banking Corporation (IBC), marking the first U.S. bank to establish a branch in the country.
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The initial focus of IBC at 1 Prince Street was trade financing for Malayan rubber and tin exports in the early 20th century.
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In the 1980s, Citibank was the first bank to use automated teller machines (ATMs) in Singapore, setting a trend in the banking industry.
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The Global Consumer Banking division was established in 1982 to address the needs of individuals and small businesses.
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In the early 1990s, Citibank introduced Singapore's first 24/7 telephone banking service, managed by CitiPhone officers.
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Despite entering the retail-banking sector relatively late, Citibank has become a significant market player, dominating key areas like unlicensed money lending, deposits, investments, and secured assets.
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Awarded a Qualifying Full Bank (QFB) license by the Monetary Authority of Singapore (MAS) in 1999, Citibank was among the first four foreign banks to receive this designation.
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In June 2002, Citibank became the first QFB-licensed bank in Singapore to offer the Visa global debit service.
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The following July, it introduced the Citi Quick Cash, providing customers the option to transform the available credit limit on their Citi Credit Card or Citi Ready Credit into cash. This amount can be repaid in monthly installments, conveniently included with their regular monthly payment.
Products and Services
Citibank in Singapore offers a wide range of financial products and services.
Bank Accounts:
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Savings Accounts
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Current Accounts
Credit Cards:
Various credit card options with different features and benefits.
Loans:
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Personal Loans
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Home Loans
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Auto Loans
Investment Products:
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Unit Trusts
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Structured Products
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Investment-linked Insurance
Wealth Management:
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Private Banking Services
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Portfolio Management
Insurance:
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Life Insurance
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General Insurance
Digital Banking Services:
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Online Banking
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Mobile Banking
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Digital Wallet Services
Corporate and Business Banking:
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Business Accounts
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Business Loans
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Treasury and Cash Management Services
Global Banking Services:
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Trade Finance
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Foreign Exchange Services
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Global Transaction Services
Specialized Services:
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Priority Banking
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Citigold Private Client Services
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Citi Prestige (Exclusive Banking Program)
Company Culture
Citi emphasizes a steadfast commitment to their values, seeking individuals who align with these principles. The belief in doing what is right for clients and their team is fundamental.
The mission at Citi is to act as a trusted partner, responsibly offering financial services that foster growth and economic progress. They've established clear expectations guiding their actions, embodied in their Leadership Principles: taking ownership, delivering with pride, and achieving success collaboratively.
The four guiding principles, the values that steer them in fulfilling their mission, are:
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Common Purpose - One unified team, working towards a singular goal: serving clients and stakeholders.
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Responsible Finance - Conduct characterized by transparency, prudence, and dependability.
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Ingenuity - Enriching clients' lives through innovative solutions that leverage their extensive information, global network, and top-tier products.
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Leadership - Cultivating skilled individuals with premier training who excel in a diverse meritocracy, where excellence, initiative, and courage are paramount.
Committed to Diversity, Equity, and Inclusion
At Citi, they leverage their global influence for social change. Committed to inclusive practices, they believe it's essential for improved business performance and a welcoming, safe, and respectful workplace.
Through ongoing efforts at all levels, they aim to create paths for diverse leaders, fostering an equal and equitable future. Expanding on 2018 goals, they ensure Citi reflects the communities it serves, emphasizing diversity as a driver of success.
Employee Benefits
At Citibank, they prioritize their people by bringing the best to them. Citi employees strive daily to make positive impacts in the communities they serve. In return, Citi prioritizes its employees, offering top-notch benefits for their well-being, both physically and financially. This includes comprehensive resources to support a healthy and financially secure lifestyle.
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Live Well, Stay Healthy: the company offers programs and services supporting your physical and mental health, such as telehealth options, health advocates, confidential counseling, and more.
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Paid Parental Leave: Recognizing the importance of parental bonding, they implemented an expanded Paid Parental Leave Policy in early 2020, ensuring all Citi employees worldwide have the time they need to adjust to parenthood and bond with their newest family members.
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Your Finances, Today and Tomorrow: They empower our employees to take control of their financial well-being, assisting them in planning for both their present and future.
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Continual Learning: Citi offers access to diverse learning and development resources, allowing you to enhance and expand your skills and knowledge throughout your career journey.
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Prioritize Well-being, Enjoy Time Off: They offer various programs supporting work-life balance, including generous paid time off packages, to ensure our employees can take the time they need to recharge and maintain a healthy equilibrium.
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Community Support: Citi provides employees with resources and tools to engage in volunteer activities within their local communities. In 2019, Citi employees collectively volunteered for over 1 million hours globally.
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Employee Banking Perks: Enjoy staff banking privileges covering mortgages, credit cards, savings accounts, investments, insurance, and more.
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Comprehensive Benefits Package: Employees receive a comprehensive range of benefits, from essential medical care and insurance to various leave entitlements.
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Flexi$ for Flexibility: Introducing Flexi$ for flexible spending, providing staff with the flexibility to choose benefits aligned with their evolving circumstances, including lifestyle and life event changes.
Company Leadership
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Amol Gupte - ASEAN Head & Citi Country Officer: based in Singapore, leads Citi's ASEAN markets, India, Bangladesh, and Sri Lanka. A 34-year Citi veteran, he is a member of Citi's Asia Pacific Operating Committee and previously served as the ASEAN Head & Citi Country Officer for Singapore since 2016.
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Tibor Pandi - Citi Country Officer: Leveraging his experience, leadership, and extensive knowledge of the region, clients, and business with 22 years at Citi, Tibor is well-prepared to enhance what we've accomplished in Singapore over the past 120 years. His expertise will contribute to assisting our clients in seizing emerging growth opportunities.
Conclusion
In conclusion, since its establishment in 1902, Citi has evolved into a comprehensive full-service bank in Singapore, serving a diverse range of clients.Citi attributes its success to the talent and dedication of its employees, emphasizing their crucial role in maintaining the brand's reputation as a premier financial services organization worldwide. Aniday has provided a concise overview of Citibank Singapore, covering company history, culture, benefits, and leadership.
