Citibank has just introduced its first retail branch in Ho Chi Minh City, Vietnam.

The outlet, located in the Sunwah Tower of the city's central business district, will be offering both savings and personal investment products, including deposit accounts in multiple currencies, online transactions, and interest accounts. Citigold, the bank's wealth management offering, will also be made available to Vietnamese clients.

"We aim to set a new standard in premium banking in Vietnam," said Shirish Apte, the chief executive officer of Citi Asia-Pacific. "We believe in Vietnam's future and are committed to continue to invest here and actively participate in Vietnam's economic growth."

According to the Asian Development Outlook released by the Asian Development Bank last month, Vietnam is forecast to grow 4.7 per cent in 2009.