Citi predicts 10% growth in clients, assets in Asia wealth unit

FILE PHOTO: Reflections are seen on the glass facade of a Citibank branch in Beijing, China, April 18, 2016. REUTERS/Kim Kyung-Hoon

Citigroup Inc. is forecasting a 10% boost in new clients and assets at its retail wealth unit in Asia, betting that a digital push will help it grow this year even as the coronavirus upends businesses across the region.

The bank plans to expand its customer base across 12 markets, underpinned by online growth, said Fabio Fontainha, Citi’s head of retail banking for Asia Pacific. Fontainha’s unit serves clients with investable assets of $100,000 to $10 million.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter