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citibank korea inc- gdr 144a (CBKKY) Snapshot

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EX-Date
12/29/09
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Current Stock Chart for CITIBANK KOREA INC- GDR 144A (CBKKY)

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citibank korea inc- gdr 144a (CBKKY) Details

Citibank Korea Inc. provides various financial products and services in South Korea. It offers deposit products, which include FX deposits, savings account, installment savings deposits, and time deposits; and loan products that comprise personal loans, unsecured credit loans for employed workers, doctor loans, and mortgage loans. The company also provides offshore and onshore investment products, trust services, credit cards, bill payments, and insurance products. In addition, it offers Internet banking, money transfer, mobile banking, and remittance services. The company operates 186 branches and 5 business offices. Citibank Korea Inc. was founded in 1981 and is headquartered in Seoul, South Korea. Citibank Korea Inc. operates as a subsidiary of Citigroup Korea Inc.

Founded in 1981

citibank korea inc- gdr 144a (CBKKY) Top Compensated Officers

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Compensation as of Fiscal Year 2014.

citibank korea inc- gdr 144a (CBKKY) Key Developments

Citibank Korea Inc.’s Workers to Go on One-Day Strike

Citibank Korea Inc.’s workers plan to go on a one-day strike July 4, 2014 to protest the company's restructuring plans that will lay off about 15% of its workforce. All unionized employees, numbering about 3,000, will take part in the walkout, which will run from 9 a.m. to 6 p.m. that day. The labor group will also raise pressure on management to sign an agreement on a pay increase.

Citibank Korea to Cut 15% Jobs in Korea

Citibank Korea announced that it will cut 15% of its workforce due to lower demand for offline services, raising tensions with its labor union. Citibank Korea confirmed that under the 'voluntary retirement' program, 650 employees out of the bank's 4,240 will soon leave the company as part of its repositioning plan in Korea.

Citibank Korea to Close 56 Branches

Citibank Korea announced that it would reduce its number of branches nationwide by 30% through closings and integration. Its decision came amid worsening profitability and growing calls for cuts in the payroll. The company announced that the operating branches of the commercial bank will be slashed by 56 from 190 to 134 by the end of the year.

 

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