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Citi’s history in the Philippines dates back to July 1902, when the International Banking Corporation, forerunner of Citibank, established a branch in Manila. Today, with over 7,000 employees, Citi Philippines proudly serves the public sector, top-tier local corporates, multinationals, and financial institutions through its Institutional ...
Manila - Citi today announced it has reached agreement with UnionBank of the Philippines (hereafter "UnionBank") on the acquisition of Citi's consumer banking franchise in the Philippines.
Citibank Philippines was the Philippines branch of Citibank. In July 1902, the International Banking Corporation, a predecessor to Citibank, opened its first branch in Manila. It was the largest commercial bank in the Philippines.
In short, there will be no impact to accounts and holdings with Citi, and customers can continue to use Citibank’s online and mobile banking services, credit cards, mortgage products, and other services.
The completed sale of Citi's Philippines consumer business is the second divestiture to date among the 14 consumer markets in Asia, Europe, Middle East and Mexico that Citi intends to exit as part of its strategy refresh.
Citi recently announced that it has successfully completed the sale of its Philippines Consumer Business to UnionBank of the Philippines. If you’re a customer of Citi and you’re wondering what will happen to your credit card, loans, and deposits, here’s an explainer.
Here are the locations of Citibank branches in the Philippines, plus ATM locations and some info.
After months of hearsay, it’s finally official: UnionBank of the Philippines will acquire Citigroup’s consumer banking business in the Philippines. The local bank has entered a Share and Business Transfer Agreement with the various subsidiaries of Citigroup Inc. to complete the acquisition.
UnionBank of the Philippines has completed the acquisition of US-based Citi group’s retail banking operations in the country. The deal, first announced in December 2021, covers Citi’s credit card, unsecured lending, and investment operations in the Philippines and is valued at PHP45.3bn ($817.12m).
Manila, December 23, 2021 — UnionBank of the Philippines announced today that it has entered into a. Share and Business Transfer Agreement with various subsidiaries of Citigroup Inc. (Citi) to acquire Citi’s. consumer banking business in the Philippines.