Citigroup, Inc (NYSE: C) will expand its presence in South Korea by increasing the number of branches that it has by 20% according to a statement made by a senior official for Citigroup Korea on Friday.
Citigroup Korea Inc. Chairman Ha Yung-ku made the announcement when speaking with reporters, but did not provide a specific timeframe for the expansion.
Citigroup Korea is the financial holding company of Citibank Korea, which has about 220 branches in South Korea.
Citigroup Inc. (Citigroup) is a global diversified financial services holding company. The Company provides consumers, corporations, governments and institutions with a range of financial products and services. As of December 31, 2009, Citigroup had approximately 200 million customer accounts and did business in more than 140 countries.
Citigroup, Inc (NYSE: C) shares traded up 1.26% on Friday ending at $4.01.
