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Delayed Nyse  -  04:03 2022-12-08 pm EST
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Citigroup Inc. : Citibank Hungary’s New Premium Personal Loan is Now Available from a 17.9 Percent Interest Rate

10/02/2012 | 06:37pm EST

For Immediate Release

Citigroup Inc. (NYSE: C)

Budapest, Hungary - Citibank Hungary's new Premium Personal Loan offers consumers an outstanding opportunity to realize their financial plans requiring funds from HUF 3 million to HUF 6 million. The annual interest rate of the new Citibank Premium Loan is from 17.9 to 19.9 percent subject to status and applies to applications submitted via all channels, including branches, direct sales agents, telephone and online, under contractual terms and conditions.

Batara Sianturi, Citi Country Officer for Hungary, said: "The key focus in our strategy is to provide our customers with innovative, flexible, secure and convenient products to support their financial goals. We have noted an increasing interest in our personal loans among our customers and target audiences. This demand provides clear evidence that our offerings are highly competitive, and we are gratified that they are addressing various important customer needs."

Jon Wiggins, Citibank Consumer Business Manager, also remarked: "Some of our customers told us that they need more funds in special cases to realize some of their bigger scale plans. We carefully designed this new product to address those customer needs. In our sales process we pay attention to provide this opportunity to customers with stable financial backgrounds who are able to maintain control over their finances. We are committed to continuing to offer outstanding opportunities to our customers."

Citibank Mega Loan key features include:

  • Loan amounts from HUF 3 million to HUF 6 million
  • Tenure from 30-72 months
  • Minimum of HUF300,000 salary transferred to Citibank account with two monthly direct debit instructions set, out of which one has to cover the loan installment payment
  • Obligation confirmed in a document signed by a public notary
  • Fixed annual interest rate of 17.9 or 19.9 percent depending on the scoring results
  • Application can be initiated in Citibank branches, telesales & direct sales channels and online
  • Administration fee is 1 percent.

Important information

  • APR is between 19.9%-22.9%
  • A representative example based on paragraph 4.§ (2) of the Act 2009/CLXII on Consumer Loans: for a loan of HUF3,000,000, the fixed interest rate is 19.9%, the administration fee is 2%. Total amount to be repaid is HUF 4,758,900, monthly installment is HUF 79,315, APR is 23.0%. Calculation of the APR is based on actual contractual terms and the applicable laws and it may be changed when these terms and laws change.
  • Further information on terms and conditions are available at Citibank's website at www.citibank.hu, at Citibank Branches and Citibank Credit Phone Line at 06-40-40-10-40.

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citigroup provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi

Citibank Hungary
With more than a 25-year history of presence, ingenuity and leadership in Hungary, today, Citibank Hungary operates as a unique global bank providing large corporate, small and middle enterprises and individual clients with a wide range of world-class, leading-edge innovative products and services. These include global transactions services, securities and fund services, corporate and investment banking services, treasury services, wealth management, investment products, cards, insurances and loans. The highly skilled team of Citigold personal bankers provides outstanding private banking services to affluent individuals. Citibank Hungary's diversified distribution channels consist of 26 branches across major cities in Hungary, 24/7 CitiPhone banking, Citibank Online internet banking and direct sales/telesales channels.

Citibank Hungary's Zero Fee Bank Account for the fourth consecutive year was voted the Best Bank Account Award in the 2011 MasterCard - Bank of the Year Competition.

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© Publicnow 2012
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Sales 2022 75 203 M - -
Net income 2022 14 118 M - -
Net Debt 2022 - - -
P/E ratio 2022 6,24x
Yield 2022 4,57%
Capitalization 86 558 M 86 558 M -
Capi. / Sales 2022 1,15x
Capi. / Sales 2023 1,13x
Nbr of Employees 238 000
Free-Float 62,4%
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Average target price 55,93 $
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Jane Nind Fraser President, Chief Executive Officer & Director
Mark A. L. Mason Chief Financial Officer-Institutional Clients
John C. Dugan Chairman
Mike Whitaker Head-Operations & Technology
Mary Mcniff Chief Compliance Officer
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