Korea Citibank has decided to continue customer services through iM Bank (formerly Daegu Bank) ahead of its exit from the consumer finance institutional sector. Citibank plans to phase out retail finance customers by 2027.
Korea Citibank announced on the 16th that it has signed a business agreement with iM Bank to ensure that there are no gaps in the financial services utilized by retail finance customers.
The two banks have decided to jointly establish dedicated counters for retail finance customers, offer customized product configurations, and connect digital channels as practical support measures. They will conduct 'nearby branch pairing' between their branches in 9 regions nationwide for customers visiting offline stores. As of now, confirmed pairing branches include 7 regions such as Seoul, Incheon, Chungbuk, Daegu, and Busan. A dedicated counter for Korea Citibank customers will also be operated at major iM Bank branches.
Customers who obtain a 'Citibank customer verification certificate' from Korea Citibank's branches, website, or mobile application can visit iM Bank branches to receive benefits such as the issuance of dedicated bank accounts, preferential interest rates, and fee waivers.
Korea Citibank decided to gradually eliminate its consumer finance institutional sector in 2021.
A representative from Korea Citibank explained, 'We signed a consumer finance business partnership with iM Bank following KB Kookmin Bank in 2023 to support customers' voluntary transfer of transaction banks.'