Citibank Japan Tops Nikkei's Retail Banking Survey

Published on Thursday, 02 September 2010 10:29 Written by TradersHuddle Staff

NEW YORK-( Business Wire )-

Citibank Japan Ltd. (hereafter Citibank Japan) was ranked number one in the Nikkei's prestigious Retail Banking Survey. Jointly conducted by Nikkei Inc. and Nikkei Research Inc., the sixth annual survey compared the quality of over-the-counter service and financial products of 118 banks in Japan.

The survey included ‘undercover customers’ visiting the banks' main branches during June and July, posing as potential customers. Seeking advice on product offerings, they ranked each bank branch on a broad range of different criteria, from office management, customer service, knowledge and ability to explain products, through to the waiting time of ATM users. They also focused on the quality and range of products and services available to customers at each branch. Citibank Japan was ranked number one overall for its extensive product range.

Commenting on the survey results, Vikram Pandit, CEO of Citigroup, said: "We have been in Japan since 1902, focusing on our clients and investing in our business so we can become the most innovative bank in the market. Our team in Japan is setting a new benchmark for quality and I congratulate them on this well-deserved recognition."

Stephen Bird, CEO of Citi Asia Pacific, said: “Market Leadership is about delivering best in class value propositions. Innovation means bringing fresh value to customers. Our Japanese team has delivered a new digital "Smart Banking" experience tailored to each specific customer segment...clearly they love it and we're on a new growth trajectory as a result."

In April this year, Citibank Japan opened two new state-of-the-art retail banking branches in Nihonbashi and the Marunouchi area, both within walking distance of Tokyo station. They were the first full-service Smart Banking branches in Citi's global network, and designed around Citibank's target customer segments, with customized products, services and information.

The new branches give customers the convenience of accessing leading-edge technology, such as interactive touch panels and video-conferencing, or the option of receiving full-service banking from branch staff in the private consulting rooms. The branches are also strategically located in high-traffic areas, making it easy and convenient for customers to access.

Darren Buckley, Citigroup Japan Country Head said:" Innovating around our customers to significantly enhance their experience by delivering banking services in a more simple, convenient and accessible way across all our channels is at the heart of Smart Banking. We’re very proud that our efforts have been recognized independently by the Nikkei Retail Banking Survey and we will be expanding this focus on customer-centric innovation throughout our Citi Japan franchise."

Citibank Japan is planning to open a number of new Smart Banking branches within the next twelve months, bringing the total number of retail banking branches across the country to 35. Citibank Japan eventually plans to convert its entire current branch network into the new model.

Citi

Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.

Citi entities in Japan provide a broad range of financial products and services across corporate, consumer and investment banking as well as credit cards business.

Media:CitiAndrea Hurst, 212-559-4767andrea.hurst@citi.comorCiti Japan, +81-3 6270-9848 Tokyo