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Citibank to close its last branch in Singapore on Oct 12
The Straits Times
|September 26, 2024
Move comes as it shifts focus to serving customers online and at wealth hubs
Citi currently has three wealth centres in Singapore, which is one of Citi's four global wealth hubs, along with Hong Kong, the United Arab Emirates and London. The bank unveiled its flagship hub at 268 Orchard Road in December 2020, followed by facilities at Parkway Parade in December 2023 and in Holland Village in early 2024.
Citibank will close its last branch in Singapore as it focuses on serving customers online and advising affluent clients at its wealth hubs. The US bank will on Oct 12 shutter its Jurong East branch and Citigold Centre in the CPF Jurong building at 21 Jurong Gateway.
The move comes amid higher adoption of digital, online and self-service platforms for banking activities, it told customers via e-mail on Sept 25.
This story is from the September 26, 2024 edition of The Straits Times.
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