Insight & Analysis

Press release: Citi Commercial Bank launches in Japan

Published: Jun 2024

17th June 2024Citi today announced the launch of Citi Commercial Bank (CCB) in Japan. This launch is part of Citi’s strategy to launch CCB in key growth markets across specific clusters where we can grow at scale. CCB will focus on supporting mid-sized corporates in Japan through every stage of their growth journey by offering clients products and solutions that meet their strategic needs, while leveraging the power of Citi’s broad global network.

Press release news paper

The launch complements Citi’s existing banking capabilities in Japan, which currently supports large Japanese corporates and global multinational companies operating in Japan. Through CCB, Citi will serve and support the growth ambitions, day-to-day operations and cross-border needs of mid-sized corporates in Japan. This launch follows the launch of CCB in France and Ireland in 2023, as well as Germany, Switzerland, and Canada in 2022.

Citi recently appointed Yutaka Naito as Head of CCB for Japan. In this role, Yutaka will oversee CCB’s business and operations in the country. He is responsible for driving the growth of the business, its financial performance, and building new client relationships. He will also work closely with our Markets, Services, and broader Banking businesses to deliver Citi’s full suite of products and solutions to CCB clients. Yutaka joined Citi as Treasury and Trade Solutions Japan Corporate and Public Sector Sales Head in 2019.

Gunjan Kalra, Head of Japan, Asia North & Australia, and Asia South for Citi Commercial Bank, commented: “Citi is dedicated to supporting mid-sized companies with their growth journey. Japan is home to many new and innovative companies, with global linkages and cross-border business needs. Playing to our strengths through our global network, Citi is well positioned to support the business ambitions of these companies. Our expansion into Japan reaffirms our commitment to serving the Japanese market and its companies and underlines the importance of the market for our global commercial banking strategy.”

CCB offers a comprehensive suite of products and solutions, and its clients can avail of Citi’s network to obtain the same solutions as those offered to large corporates however tailored to meet their unique needs. These solutions include trade and working capital, treasury and liquidity management, global markets capabilities, capital markets solutions, and advisory services. CCB seeks to fuel client strategic growth by leveraging our global network with a presence in over 90 countries.

Following the launch in Japan, CCB now serves clients in 12 markets in Asia including Australia, mainland China, Hong Kong, India, Indonesia, Japan, Malaysia, Singapore, South Korea, Taiwan, Thailand, and Vietnam.

“Some of the world’s latest technologies and automotive products are created by Japan’s mid-sized companies. As a global bank, we are best positioned to understand the local market nuances while supporting these companies with their global ambitions,” said Marc Luet, Cluster and Banking Head, Japan, Asia North and Australia. “With the launch of the CCB in Japan, we are pleased to be able to offer these clients the same capabilities that Citi offers the world’s largest companies, customized to their specific needs.”

Citi is one of Japan’s longest serving US banks, offering full-service institutional banking with offices in Tokyo, Osaka, and Okinawa.

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