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Citigroup plans to double South Korea wealth assets by 2020

Reuters

HONG KONG, March 27 (Reuters) - Citigroup Inc plans to double its wealth management assets in South Korea, currently at about $3 billion, by 2020, as the U.S. bank invests more in digital technology to expand its customer base in the country.

Citi also aims to boost South Korea consumer banking deposits by 30 percent by 2020, up from $10 billion currently, it said in a statement about its expansion plans, as the bank mark its 50th anniversary in the country this year.

(Reporting by Sumeet Chatterjee; Editing by Edwina Gibbs)