Citigroup intends to build up its consumer credit business in Japan as part of its aggressive expansion programme in the world’s second-largest economy.

Citigroup, which this year acquired Nikko Cordial, Japan’s third largest broker, for Y1,037.2bn ($8.5bn) and which plans to double the number of Citibank retail branches in Japan to 60 during the next few years, wants to expand its credit card business, Doug Peterson, the group’s most senior representative in Japan, told the Financial Times.