Press Release
Citigroup Inc. (NYSE symbol: C)
May 31, 2005
Citibank Heads for Liberec Region
Syner Palace will host new Citibank branch with its first specialised SME Center
Prague/Liberec: Citigroup –- the preeminent global financial services company is coming to
Liberec on June 1, when Citibank a.s. opens its new branch at the Syner Palace, which has
Citibank’s first dedicated center for small and mid sized companies (SME) in the Czech Republic.
The branch will offer Citibank’s full-range of consumer products and services, including bank
account maintenance, credit cards, personal instalment loans and wealth management services.
In addition, the branch will have a specialized centre for small and mid-size firms - the first one of
several such centres Citibank plans to open in the Czech Republic in next years.
Besides offering good access because of the Syner Palace’s location and its own parking lot,
Citibank also seeks to reach out to small and mid-size firms through its large staff of SME
experts. The bank also offers a special „L-credit“ with its speedy administrative settlement –
within 24 hours from the time a client’s application is filed. Furthermore, the L credit will be
offered at a special introductory price for a limited period of time after the branch opens.
“Liberec, has been chosen by Citibank as the site of our first specialized SME centre for a
number of reasons,“ said Robert Chrištof, Manager of the new branch. “The town is known for its
high concentration of light industries. There are a number of car and electronics industry
suppliers. As those sectors are undergoing a period of long-term growth potential is also shown
by their suppliers. According to the results of our survey, the region of Liberec represents about
eight per cent of Citibank‘s target market as far as the sector of small and mid-size companies is
concerned and as they to continue to grow we are tailoring our services to meet their increasing
needs,“ added Chrištof.
Citibank offers a comprehensive range of products to SME companies. Its specialty is unsecured
working capital loans for up to Kc1.4 million. Very specific also is Citibank‘s loyalty debit overdraft
that is offered by the Bank to companies based on their credit history. As one of the few banks in
the SME market in the Czech Republic, Citibank does not charge so-called commitment fees for
working capital loans, which means that the client will only pay interest from that portion of the
loan that is actually drawn down.
In addition Citibank corporate bankers personally visit their SME clients
offices and
establishments to get closer to their business and better understand their financial needs. Busy
SME clients can also use Citibank Internet banking to operate their accounts.
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Citibank is a member of Citigroup, the world’s largest financial services group that operates in
more than 100 countries worldwide. Citibank a.s. has been present in the Czech republic since
1991. Citibank has quickly achieved its market leader’s position in corporate banking and
gradually enhanced has also been its products and services offering to small and medium size
companies. In January 2001, Citibank entered the Czech retail banking market and, ever since,
a large number of its banking products and services have been offered to clients, such as
personal accounts, credit cards, personal loans, investment into mutual funds as well as CitiGold,
private banking services. Per its balance sheet (Kc75.9 billion as of the end of 2004), Citibank
currently ranks as the fifth largest bank on the Czech market. Last year, Citibank was selected as
the Most Impressive Image Bank in the prestigious RHODOS Competition.
For more information please contact:
Markéta Dvořáčková
Public Affairs Officer
Tel: 233 031 041
Mobil: +724 356 358
e-mail: marketa.dvorackova@citigroup.com
Andrea Machálková
Communications Executive
Citibank a.s.
Tel.: 233 062 781
e-mail: andrea.machalkova@citigroup.com
Note for editors:
Citibank a.s. has been present in the Czech republic since 1991. The Bank has rapidly gained its position of the market leader in
corporate banking and, Citibank’s offering of products and services has been gradually enhanced to include also small and mediumsized companies. Citibank a.s. entered the retail banking business in January of 2001 and, a number of products and services are
offered to Citibank clients ever since, such as personal accounts, credit cards, personal loans, investing into mutual funds as well as
CitiGold, the private banking services. For additional information about Citibank a.s. please refer to the following web site:
www.citibank.cz.
Citigroup (NYSE: C), the preeminent global financial services company has some 200 million customer accounts and does business
in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products
and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage, and asset
management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney,
Banamex, and Travelers Life and Annuity. Additional information may be found at www.citigroup.com.
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