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22.03.2007 /Credit cards
 ZAO Citibank launches the first Cash Back Credit Card in Russia
Moscow, March 13th 2007 - ZAO Citibank introduced the first Cash Back Credit Card to the Russian market today. This card rewards the client for using it with 1% cash back on every retail transaction.
The card can be interesting for a wide range of consumers, as the reward is real money, which the client can use at his or her discretion. Cash Back Credit Cards are popular all over the world and Citibank is one of the global leaders in the segment issuing cash back cards in more than 10 countries around the world. Russia is the 1st country in Europe for Citibank to introduce this product.
Joel Kornreich, Country Business Manager GCG Russia, commented: "This is another evidence of our commitment to build a long-term sustainable business in Russia. Our goal is to be the most trusted, transparent and customer focused financial institution in Russia and this innovative product is another step towards this goal."
Citibank Cash Back Credit Card is designed especially for those who plan their budget smartly. By using the Citibank Cash Back Credit Card, the cardholder receives 1% of the amount spent back on his or her account every month. Thanks to the interest free grace period, the cardholder may not pay interest and can use the card for any daily purchases.* Thus, Citibank clients have an opportunity to save money each time they use their Citibank Cash Back Credit Card.
Selim Ergoz, Credit Cards Business Director in Russia, commented: "Citibank clients have already explored and appreciated the convenience of using Citibank Credit Cards for day to day purchases. Citibank was the 1st bank in Russia to introduce Grace Period and now we are the 1st bank to introduce Cash Back Credit Cards, continuing to bring innovative products to the Russian market."
The Cash Back Credit Card offers revolving credit line up to RUB 160 000 (approximately $6,000) and offers one of the competitive tariffs in the market.* With the Citibank Cash Back Credit Card, any purchase becomes convenient and profitable. Besides the 1% Cash Back, Citibank Cash Back Credit cardholders are eligible to all discounts and special offers in Russia and abroad provided by more than 400 partners of ZAO Citibank.
***Notes for editors
Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing 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, and wealth management. Major brand names under Citi's trademark red arc include Citibank, CitiFinancial, Primerica, Citi Smith Barney and Banamex. Additional information may be found at www.citigroup.com or www.citi.com.
Certain statements in this document are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from those included in these statements due to a variety of factors. More information about these factors is contained in Citigroup's filings with the Securities and Exchange Commission.
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