Citi keeps large presence in Philippines, eyes expansion: official

The Philippines remains among the areas where Citi has the largest footprint, Citi Philippines CEO and Country Officer Paul Favila said on Thursday, roughly 8 months after it sold its consumer business to UnionBank. 

"This is one of the largest footprints for Citi globally," Favila said, adding that they are about 7,000 strong.

Its core clients include about 950 multinationals and 100 top tier local corporates, he said.

"The strength of Citi has always been in its globality. We are the most global bank. From that perspective, it becomes a very obvious choice for all our global customers who want to operate all over the world. We are present on the ground in 95 jurisdictions," Favila said.

He said the group is eyeing expansions in the country as it adds more "high value functions" to its service center located in the Philippines.

• UnionBank completes acquisition of Citi consumer business in PH
• BSP approves UnionBank acquisition of Citi consumer business in PH
• Antitrust body OKs UnionBank's acquisition of Citi PH consumer banking business