Driven by ongoing momentum in the region, CCB Asia Pacific is an attractive growth business and one that is strategically important to Citi and CCB globally. The business’s 5-year Cumulative Average Growth Rate (CAGR) from 2017 to 2021 was 8%. In 2021, the business grew 12% over the previous year.
“As more emerging and mid-sized companies enter new markets and create global supply chains, there is a real need for sophisticated global banking services. This need, coupled with the growth potential of this client segment, is leading us to make investments so that we can serve clients at scale. We will grow our country CCB businesses in the region, build out our digital platforms and capabilities, and deepen penetration in emerging, high-growth disruptor sectors,” added Rajat.
The CCB business in Asia Pacific is present in 11 markets across Greater China, ASEAN, India, Korea and Australia. In 2021, the Asia Pacific business contributed to 41% of CCB’s global revenues of US$2.7 billion.