07 Feb '12, 9am

Citigroup 1st foreign bank to launch credit cards in China

Citigroup 1st foreign bank to launch credit cards in China

A woman walks into a Citibank branch in New York on 17 Jan, 2012. Citigroup said it has won permission to issue credit cards in China, a first for a foreign bank amid complaints regulators largely shut out overseas competitors from tapping the massive market. -- PHOTO: REUTERS SHANGHAI (AFP) - Citigroup said it has won permission to issue credit cards in China, a first for a foreign bank amid complaints regulators largely shut out overseas competitors from tapping the massive market. In a statement issued on Monday, the United States - based banking giant said it had received approval to issue its credit cards from industry watchdog the China Banking Regulatory Commission. 'This approval represents a significant milestone in the continued expansion of Citi's business in China,' Mr Stephen Bird, chief executive officer of Citi Asia-Pacific, said in the statement. Citigroup,...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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Citigroup to launch credit cards in China

Citigroup to launch credit cards in China

channelnewsasia.com 07 Feb '12, 9am

SHANGHAI: Citigroup said it has won permission to issue credit cards in China, a first for a foreign bank amid complaints ...

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