citi-expands-lending-capabilities-in-china

Citi expands lending capabilities in China

The bank plans to open two new lending companies in Hubei province.
Citi China has received approval from China's regulators to establish two new lending companies in Hubei province.

The two companies will open in GongÆan and Chibi of Hubei province in central China where agricultural development is helping the region grow economically. They will respectively be known as Hubei Jingzhou GongÆan Citi Lending Co and Hubei XianÆning Chibi Citi Lending Co. Both lending companies are expected to start operation within months, Citi says.

Citi currently has 28 branches and sub-branches in China, in eight cities. It doesn't have branches in these towns in Hubei and so it is using this model to reach new customers, such as farmers or self-employed entrepreneurs who don't have much access...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222