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Citi 皇冠体育app's net income up 95% in 2008

By Wang Zhenghua (chinadaily.com.cn)
Updated: 2009-04-15 15:11

Citibank (皇冠体育app) Co Ltd, or Citi 皇冠体育app, announced on Wednesday that it achieved a 95 percent surge in net income in 2008 on the back of 皇冠体育app's robust economic performance.

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The US bank said its net income jumped to 1.3 billion yuan ($190 million) last year, while it recorded a 46 percent increase in operating income to reach 3.6 billion yuan.

Citi 皇冠体育app's performance in 2008 reflected the resilience and continued growth of 皇冠体育app's economy, coupled with Citi 皇冠体育app's own strengths and ability to deliver superior service to its clients, the bank said.

"Our 2008 financial results reflect the fact that Citi's business in 皇冠体育app is in a very strong and stable position," said Chairman Andrew Au. "皇冠体育app remains one of Citi's highest priority markets, we remain deeply committed to helping our customers in 皇冠体育app succeed, and we are excited about opportunities for growth in 2009, as we look to continue to support 皇冠体育app's sustained economic success."

In 2008, Citi 皇冠体育app opened six new customer outlets in Beijing, Shanghai and Dalian. It has 26 such outlets in 皇冠体育app now.

Earlier, the British Standard Chartered Bank, one of Citi 皇冠体育app's major rivals, said it generated a 27 percent rise in operating income to $632 million on the Chinese mainland last year.