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Non-Tech : C (Citigroup)

C 100.23

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From: JakeStraw	2/6/2012 9:15:12 AM
	1 Recommendation Read Replies (1) of 259

The China unit of Citigroup Inc. said on Monday that it has received regulatory approval to issue credit cards in China, the first non-Asian bank to receive permission. Citi, which has branches in 13 cities, said it would likely launch credit card operations this year. "This approval represents a significant milestone in the continued expansion of Citi's business in China, a priority market for Citi," said Citi Asia Pacific Chief Executive Stephen Bird. "Our business in China continues to perform strongly across institutional and consumer lines, and our ability to introduce a credit and commercial card proposition adds to our healthy growth momentum in this key market." finance.yahoo.com

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