Good news to all fashionistas and fashion enthusiasts! Citi, in partnership with the SSI Group Inc., will be hosting a Big Fashion Sale happening at the Glorietta Activity Center. Shop for the latest fashion trends and get up to 70% off your favorite premium fashion brands like Marks & Spencer, Gap, Samsonite and more. Plus, enjoy 0% Citi PayLite up to 6 months.
SSI’s Big Fashion Sale will be exclusive to Citi credit cardholders from September 17 to 19, 2018. It will open to the public from September 20 to 24, 2018. To know more about this exciting offer, visit www.citibank.com.ph/bfs.
Citi, the country’s leading foreign bank, remains positive about economic growth in the Philippines despite current global market volatility. At a series of mid-year outlook events, Citigold clients heard expert views on the current market environment and implications for investment strategy shared by Citi and guest speakers.
Manoj Varma, Consumer Banking Head of Citi
Citi’s consumer banking head Manoj Varma opened the sessions and explained the importance of understanding risks and opportunities when investing. Varma said, “Citigold clients look for trusted advice and up-to-date information, especially during times of market volatility.”
Ramon, Tejero, Citicorp Financial Services and Insurance Brokerage Inc. (CFSI) investment product head
According to Ramon Tejero, Citicorp Financial Services and Insurance Brokerage Inc. (CFSI) investment product head, market data shows that we are in the midst of the second longest and third strongest equity bull market since 1970. Recent market volatility has been primarily caused by rising interest rates, potential trade wars, and geopolitical tensions.
“Despite market concerns, there appear to be opportunities in technology, financials, healthcare, and industrials due to continued earnings growth in these sectors,” said Tejero.
The economic climate in the Philippines
In the Philippines, Citi believes the country’s economic growth momentum will be sustained in the coming years. Citi forecasts GDP will grow by 6.8% in 2018 and 6.7% in 2019. A primary source of growth will be the government’s infrastructure program.
Citi Philippines consumer banking head Manoj Varma (2nd from right) joined speakers who shared their expertise with Citigold clients at the 2018 Mid-Year Market Outlook (L-R): Kelvin Lam of Allianz Global Investors, Anis Tiasiri of J.P. Morgan Asset Management, Julian Tarrobago of ATR Asset Management Inc., and Ramon Tejero of Citicorp Financial Services and Insurance Brokerage Philippines Inc.
However, businesses and consumers are showing cautious optimism on the back of ongoing inflation concerns. Citi expects inflation to top 5.3% in the third quarter of 2018 before declining to below 5.0% in the following quarter.
“Investors can focus on diversification across asset classes and geographies and income themes while watching out for tactical opportunities,” concluded Tejero.
Citi Philippines Retail Bank head Rene Aguirre (right) welcomes clients to the 2018 Mid-Year Outlook along with Citigroup Financial Services and Insurance Brokerage Philippines president Lester Cruz.
“The world is indeed shrinking and when, where, and how we invest is largely influenced not only by domestic factors but also by global market events,” said Rene Aguirre, Citi Retail Bank head. “As trusted advisors, we help our clients grow and protect their wealth. In recent months, 10 new investment products have been launched and digital innovations continue to be developed, such as the recently unveiled next-generation Citi mobile app.”
More than 400 passionate volunteers from Citi Philippines led by country Chief Executive Officer Aftab Ahmed turned up in full force during the recently held Freedom Walk 2018, with the local government of Pasig as this year’s host city.
With the theme “Every Rightful Step, All Barriers We Break”, the Freedom Walk is co-chaired by non-governmental organizations, Alyansa ng May Kapansanang Pinoy (AKAP-Pinoy) and Philippine Foundation for the Rehabilitation of the Disabled, Inc. (PFRD) as an expression of the desire of persons with disabilities (PWDs) to be free from discrimination and inequality.
Shown in photo receiving Citi’s plaque of appreciation is Aftab Ahmed together with PFRD’s president Manuel V. Agcaoili.
The Cathay Pacific-Citi Summer Sale — with exclusive travel deals — is now on from April 23 up to May 1, 2018!
If you were unable to drop by the Cathay Pacific-Citi Summer Sale last weekend at the Shangri-La Plaza, Grand Atrium, Main Wing, you can still book exclusive low fares with your Citi Credit Card!
Travel to Hong Kong, China, Taiwan, Japan, Korea, Israel, Australia, New Zealand, Maldives, South Africa, select locales in Europe including London, Paris, and Amsterdam; select areas in the East and West coast including Boston, New York, Washington, Los Angeles, San Francisco; and select destinations in Southeast Asia including Bangkok, Kuala Lumpur and Singapore!
Take advantage of fares for as low as USD 530 to the US, USD 106 to Hong Kong, USD 562 to London, and USD 424 to Australia!
Plus, enjoy 0% Citi PayLite for 3 months when you book via the participating travel agencies!
Conveniently book online at http://bit.ly/cathaysummersale or visit the Cathay Pacific ticketing office at the 22F LKG Tower, 6801 Ayala Avenue, Makati City. You can also call the Cathay Global Contact Center: 1800 1441 1011 (PLDT/Smart) or 1800 8739 5117 (Globe), or book through the following participating travel agencies:
Travel period is until December 15, 2018. Fares are exclusive of PH tax, government taxes and other surcharges. Fares are subject to change due to currency conversion rate; and all flights are via Hong Kong. Booking of discounted fares will depend on the customer’s chosen dates.
Truly with your Citi credit card, you can experience more of the world with these great travel deals!
The Philippines’ inflation rate has risen to 4% year on year in February, a three-year high, from an average of 2.9% in 2017 (using the new 2012 Consumer Price Index base year). While bond yields have risen in 2017, policy rates have yet to increase.
This was among the topics discussed in the recent Citigold 2018 Annual Market Outlook Briefing, “Navigating A Maturing Bull Market” attended by more than 600 Citi customers in the cities of Taguig, Mandaluyong and Cebu.
Also on the agenda was the United States economy. The briefing heard that the United States is showing early signs of inflation that may have implications for both Asia and Europe. However, the good news from the speakers was that they expect no serious financial consequences and remained bullish on Philippine and select global financial markets as these continue to present potential investment opportunities.
Ramon Melchor Tejero, Investment Product Head of Citicorp Financial Services and Insurance Brokerage Philippines Inc., said, “We believe that the recent decline in markets was caused by the sudden change in sentiment among investors related to inflation and rising interest rates.”
Aftab Ahmed, Citi Philippines Chief Executive Officer said, “This is Citi’s 116th year of serving the Philippines and we owe our continued leadership in the country’s banking sector, to the loyal support of our valued clients. Our wealth managers are committed to guiding our clients make sound investment decisions.”
“We are also enhancing our digital capabilities to make our services more accessible to everyone who banks with us. Our priority remains to be the best through the eyes of our clients. Our goal remains one of delivering a strong value proposition.”
Manoj Varma, Citibank Consumer Business Manager, shared Ahmed’s optimism “because of the opportunities and growth I see in the Philippines.” Varma said, “The Philippines remains as one of the fastest growing economies in the world. The demographics are supportive of growth. The population is young, productive, and growing. The financial industry still sees a lot of opportunities.”
The Philippine economy remains robust with a gross domestic product (GDP) growth of 6.7% in 2017. GDP growth is expected to accelerate to 6.9% this year because of the government’s infrastructure spending and higher private sector consumption both supported by the recent tax reform law. Business Process Outsourcing (BPO) revenues and Overseas Filipino Workers (OFWs) remittances are both expected to continue to grow steadily especially with the recent strengthening of the U.S. Dollar.
With the latest market forecasts, Tejero suggested that, overall, the current environment calls for staying diversified, riding the structural trends like Asian growth and the technology sector, positioning for higher interest rates, and coping with an eventual weaker U.S. Dollar.
Varma said Citigold is constantly innovating to serve clients better. “Citigold has and will continue to invest in digital and mobile capabilities that will allow our clients to manage all their investments in one place,” he said. “Citi has also partnered with the Wharton Business School to help train our people and make them even better in relationship management. The recent market leading product launches will continue and this is something that we are passionately pursuing for our clients.”
You can start your Citigold relationship today and get up to two roundtrip tickets to Japan plus up to PHP77,000 in cash credits. Visit www.citibank.com.ph for more details.
Aftab Ahmed, Citi Philippines Chief Executive Officer said, “This is Citi’s 116th year of serving the Philippines and we owe our continued leadership in the country’s banking sector, to the loyal support of our valued clients. Our wealth managers are committed to guiding our clients make sound investment decisions.” 
You must be logged in to post a comment.