Financial Times FT.com

Citibank Korea eyes expansion

By Francesco Guerrera and Andrew Ward in Seoul

Published: October 17 2004 22:12 | Last updated: October 17 2004 22:12

Citibank Korea, formed through the US group's $2.7bn takeover of Koram, is aiming to grow its share of South Korea's banking market by more than a third to 10 per cent within a few years, its chief executive said.

In his first interview since February's acquisition, Ha Yung-Ku said the combination of Citigroup's global reach and Koram's small business client base would help the bank to gain ground in the country's competitive financial services sector.

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