Citi speeds up investment pace in Romania

US Citi, with operations in Romania for over 15 years, is stepping up investments to the tune of tens of million euros annually to cement retail operations, launched broadly as late as the autumn of 2009, after the onset of the crisis.
“We’re further investing in Romania, the Czech Republic, Russia, we want to grow in the region, we like the business we’ve developed here. We’ve accelerated investments in Romania, in annual terms we are in the territory of tens of million euros,” Marc Luet, a CEO with Citicorp Consumer Group for the EMEA region, told ZF.
In just six months since he took office, he has already visited Romania twice, he says, to point out the importance granted to the Romanian market.
The retail offering is centred on the niche of mass affluent and affluent clients of major cities, with Citi preferring to keep a low territorial presence.
Luet says that Citi’s bet is on technology, and the targeted segment is that of clients wanting to carry out daily operations through alternative channels, such as mobile and Internet banking.