Staff at Citibank Taiwan Ltd’s branch in Taipei are pictured on June 30 last year. That did not suggest that it would be closing its consumer banking business in less than five months, they said. Citibank Taiwan actually planned to expand its local investment and recruit more talent at the beginning of this year, people familiar with the matter said. Meanwhile, DBS Bank Taiwan (星展銀行) yesterday said that it would not comment on market speculation that it would acquire Citibank Taiwan’s consumer banking operation. Citibank Taiwan reported a pretax profit of US$338 million for last year, ranking first among all foreign banks in the nation, company data showed.

Source: Taipei Times April 16, 2021 15:56 UTC