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August - September 2004

Business Forum

Citibank NRI Business Services: Spurring the Global Indian

They are the success stories of the Indian community abroad, embodying the most admired of human traits - courage, conviction and perseverance. They are the Non-Resident Indians (NRIs) who ventured abroad in search of opportunity and success.

The Indian Diaspora, which is estimated to be 20 million strong for an economic output of about $400 billion. Over the last few years this unique set of individuals have come to assert a lot of influence around the world. From medicine to electronics, from computer software to literature, these NRIs are making a difference both in their country of residence as well as back home in India.

A pioneering effort
Two decades ago, Citibank, India realized that this community was one with unique financial commitments and banking needs. Living in one country with roots in yet another, NRIs were truly Global Indians, who required a portfolio of financial products and solutions that was both tailor made and specialized. To provide them with these services, Citibank NRI Business was envisioned to make banking across continents not just possible, but also convenient.

Growing in strength
With two rewarding decades of experience behind them, the team at Citibank NRI Business functions from over 45 centers across the globe. Managing assets worth over USD 5 billion, the Business has been a pioneer in NRI banking, serving as a model for other Indian banks targeting this class of exclusive Indians. "The Business has had a complex and challenging task - of serving the needs of 100,000 customers, each with different profiles and requirements, which it has been able to handle with utmost dexterity over the last two decades," according to Sarvesh Sarup, Country Business Manager, GCB India.

Catering to a varied set of customers, from 25 year-old software professionals in the US to 2nd generation businessmen in Dubai to high profile professionals in Hong Kong, the Business has maintained flexibility in its product set as well as its customer delivery to manage the expectations of these NRIs across the globe.

Straight from the experts
One of the main reasons for the success of the Business has been the presence of Indian Relationship Managers. Trained and certified financial professionals, their Indian background helps them understand the NRI customer's distinctive needs and aspirations. Aided by this keen insight and armed with their knowledge of investment products from around the world, they suggest suitable options from a gamut of Treasury Products, Investment Products and India-based Products.

Services for every financial need
Superior Treasury and Investment Products, booked out of Dubai, London and Singapore help fulfill short, medium and long-term goals of customers, while Fixed Income Securities and Insurance Products help secure the future of countless Global Indians. Supplementing this range of products and solutions are India-based products such as the Rupee Checking Account, that enable NRIs to manage their financial obligations in India, with ease, speed and convenience.Citibank NRI Business also complements its services with innovative state-of-the-art online banking and CitiPhone Banking to ensure a seamless banking experience to every customer.

The exclusive experience
And for the Global Indians who have reached the heights of success, CitiGold Wealth Management provides the best in global banking. With personalized service, wealth management tools and loyalty activities such as high-profile customer events, special Hindi movie premieres, elite fashion shows and more, this segment has been a special focus area of the Business.

In the future
Citibank NRI Business has come a long way, but still has its sights set on higher goals. "Expansion plans to increase its operating centers are underway, as are plans to reach out to more Indians worldwide,' says Rahul Malhotra, Global Head, Citibank NRI Business. With newer products and more constructive solutions, Citibank NRI Business stands ready to live up to its primary promise to the NRI community: to power the success of Global Indians across the globe.

About Citigroup
Citigroup (NYSE: C), the preeminent global financial services company with some 200 million customer accounts in more than 100 countries, provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage, and asset management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Travelers Life and Annuity. The Citigroup Foundation focuses its grants primarily in three areas: building communities and entrepreneurs, financial education, and educating the next generation. Additional information may be found at:

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