CITIBANK has launched a full range of banking services for the so-called EAS or emerging affluent segment through a “new value position that would set the benchmark for the industry.”
In a briefing, Sergio Zanatti, Citibank Philippines’ consumer business manager, said the EAS market of about five million individuals with investible assets of $10,000 to $100,000 is expected to grow by 10 to 12 percent year-on-year.
In Asia, the EAS is projected to grow by 12 percent to 15 percent, with revenues expected rise by eight to 15 percent a year in most countries.
The Citibank emerging affluent value proposition has been launched in Singapore, Hong Kong, China and Taiwan and will be launched across Asia over the next 12 months.
“We see emerging affluent as a key growth engine for Citibank in the Philippines,” Zanatti said.
Published : Thursday May 17, 2012 | Category : Top Business News | Views : 155
By : MAYVELIN U. CARABALLO REPORTER
P275-million loan approved for Metro Manila’s wastewater treatment systemTo improve Manila Bay’s water quality, the World Bank’s Board of Executive Directors approved a $275-million financing for a project that will improve wastewater collection and treatment practices in several catchment areas of Metro Manila, the WB said in a statement released... Read more
Published : Thursday May 17, 2012 | Category : Top Business News | Views : 139
By : AFP
FRANKFURT: German Finance Minister Wolfgang Schaeuble stressed on Wednesday that it was not possible to renegotiate an international aid plan for Greece. Read more
Published : Thursday May 17, 2012 | Category : Top Business News | Views : 163
BEIJING: A slew of bleak data has raised fears that China’s economy is cooling faster than previously thought, but analysts said that Beijing has only limited means to prevent a politically damaging slowdown. Read more
