Citi launched Citi Commercial Bank (CCB) in Japan. This launch is part of Citi’s strategy to launch CCB in key growth markets across specific clusters where it can grow at scale. CCB will focus on supporting mid-sized corporates in Japan through every stage of their growth journey.
The launch complements Citi’s existing banking capabilities in Japan, which currently supports large Japanese corporates and global multinational companies operating in Japan. This launch follows the launch of CCB in Frare and Ireland in 2023, as well as Germany, Switzerland and Canada in 2022.
Citi recently appointed Yutaka Naito as head of CCB for Japan. In this role, Yutaka will oversee CCB’s business and operations in the country. He is responsible for driving the growth of the business, its financial performance and new client relationships. He will also work closely with CCB’s markets, services, and broader banking businesses to deliver Citi’s full suite of products and solutions to CCB clients. Yutaka joined Citi as treasury and trade solutions Japan corporate and public sector sales head in 2019.
“Citi is dedicated to supporting mid-sized companies with their growth journey,” Gunjan Kalra, head of Japan, Asia North & Australia and Asia South for Citi Commercial Bank, said. “Japan is home to many new and innovative companies, with global linkages and cross-border business needs. Playing to our strengths through our global network, Citi is well positioned to support the business ambitions of these companies. Our expansion into Japan reaffirms our commitment to serving the Japanese market and its companies and underlines the importance of the market for our global commercial banking strategy.”
Following the launch in Japan, CCB now serves clients in 12 markets in Asia including Australia, mainland China, Hong Kong, India, Indonesia, Japan, Malaysia, Singapore, South Korea, Taiwan, Thailand and Vietnam.
“Some of the world’s latest technologies and automotive products are created by Japan’s midsized companies. As a global bank, we are best positioned to understand the local market nuances while supporting these companies with their global ambitions,” Marc Luet, cluster and banking head, Japan, Asia North and Australia, said. “With the launch of the CCB in Japan, we are pleased to be able to offer these clients the same capabilities that Citi offers the world’s largest companies, customized to their specific needs.”
