New York-based Citi will expand its commercial banking coverage with the launch of a Japan unit.
Citi Commercial Bank (CCB) has launched in Japan, according to a statement, with a focus on mid-sized corporates in the country. The US lender will look to support growth ambitions, day-to-day operations and cross-border needs with solutions including trade and working capital, treasury and liquidity management, global markets capabilities, capital markets solutions and advisory services.
Yutaka Naito will lead the business after recently being appointed as head of CCB for Japan. He first joined Citi in 2019 as the sales head for the corporate and public sectors within the bank's Japan treasury and trade solutions arm.
Market Expansion
Citi has recently been expanding its commercial banking business to various new markets, launching in France and Ireland in 2023 as well as Germany, Switzerland and Canada in 2022. Within Asia, it serves clients in 12 markets including Australia, mainland China, Hong Kong, India, Indonesia, Japan, Malaysia, Singapore, South Korea, Taiwan, Thailand and Vietnam.
«Some of the world’s latest technologies and automotive products are created by Japan’s midsized companies. As a global bank, we are best positioned to understand the local market nuances while supporting these companies with their global ambitions,» said Marc Luet, cluster and banking head, Japan, Asia North and Australia.
«With the launch of the CCB in Japan, we are pleased to be able to offer these clients the same capabilities that Citi offers the world’s largest companies, customized to their specific needs.»
