Citibank (Hong Kong) aims to lure more customers with liquid assets in the HK$500,000 to HK$1.5 million range, aiming to grow that client segment by 20 percent.
The bank estimates that there as many as 800,000 people in Hong Kong with liquid assets in that range, the Hong Kong Economic Journal reported, citing Priscilla Ng, director of Citibank global consumer banking.
People falling under that asset category have seen their numbers rise continuously in recent years, Ng said, adding that the bank has seen high single-digit expansion in the client segment each year.
Citibank is, therefore, adjusting up its threshold for its Citigold accounts to HK$1.5 million while establishing a new account category, namely Citi Priority, for clients with balance in the HK$500,000 to HK$1.5 million range.
The new segmentation will take effect from October.
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