Citibank vows to boost local credit card business

Citigroup Inc, the New York-based financial giant, will make development of its credit business a top priority in the Chinese market this year.

Andrew Au, CEO of Citi (China) Co Ltd, said on Thursday that the performance of Citibank's credit card business, which was kicked off in September, has been "satisfactory", and the lender will continue its investment in the sector.

Simon Chow, head of Citi China's consumer banking unit, said this year it will open two credit card sales centers - in Chengdu, Sichuan province, and Hangzhou, Zhejiang province - while developing one or two new types of cards.