Citigroup, Inc (NYSE: C) To Hire 300 New Employees in Taiwan

Citigroup, Inc (NYSE: C)’s Taiwan business said on Thursday that it would be hiring more than 300 new employees by the end of the year.

Citibank Taiwan Chairman Victor Kuan  said that Citigroup, Inc (NYSE: C) has been in Taiwan for more than 46 years and it’s determine to create new jobs and offer more opportunities to younger generations.

Kuan said that the bank currently has about 5,000 employees, making it the largest single foreign employer in the banking sector, adding that the new hires will focus on professionals in enterprise banking and private banking.

Kuan, who recently became Chairman of the unit, said that the bank’s Taiwan unit made $211 million in pretax profits through may and that he expects the bank’s 2010 profits to exceed its 2009 profits of NT$13 billion as the company continues to invest in the country.

Kuan said that Citibank Taiwan is positive about the current economic future of Taiwan after the recent signing of the economic cooperation framework agreement (ECFA) with China. He said that the EFCA will grain Taiwanese companies easier market access in China to Taiwanese banks and will likely create new business opportunities in the Taiwanese financial sector.

Citibank Taiwan is currently capitalized at NT$60 Billion and has 65 branches in the country.