China’s banking market has become increasingly crowded, what is Citi’s strategy to stay competitive?
Andrew Au: We also see the market as very competitive. We need lots of strength to compete and we believe we have that strength. When looking at the competition, there are only a handful of foreign players that compete with us, whereas the local banks are very competitive in the domestic market. But while we are looking at local banks’ competitiveness we are also looking at our own strengths, and we opt to compete in chosen areas.
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