Global financial services Citibank on June 16 announced the launch of Citigold Global Banking that will focus specifically on providing retail banking and wealth management in the Asia-Pacific region. Citigold Global Banking intends targeting those who travel a lot on business. India was a lucrative market, as the number of Indians getting overseas assignments was increasing, a Citibank spokesperson said. Often, a simple and routine transaction, such as opening a bank account, remitting money, buying a house, or taking a loan in case of emergencies, becomes extremely complicated on foreign shores. It is here that Citigold Global Banking will play a pivotal role in helping its clients. Wealth management and retail banking comprises investments, insurance, mortgage, business banking, retirement planning, succession planning and wealth transfer. Citibank estimates that in the Asia-Pacific region, the mass affluent segment is growing roughly at around 15 percent on an annual basis.
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