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Citibank Investment in Vietnam Offers First US Retail Banking Service

Posted on 13 October 2009

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Citibank has become the first US bank to offer retailing banking in Vietnam according to AFP. While Citibank’s Vietnam investment dates back to 1993, the US bank has up until this month only offered corporate banking and investment services.

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Citibank Investment in Vietnam Offers First US Retail Banking Service

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Vietnam Fast Facts:

  • GDP (2008): $84.98 billion.
  • Real growth rate: 6.23% (2008)
  • Inflation rate (January 2009): 17.48% year-on-year.
  • External debt (2008): 29.8% of GDP, $21.8 billion.
  • Population: 85.79 million
  • Services: 38.10% of GDP, 2008
  • Exports: $62.9 billion
  • Imports: $80.4 billion
  • Goldman Sachs paper: Vietnam: The Next Asian Tiger in the Making