Citibank has kick started a global review of its media agency relations, with Hong Kong to be part of the tender process.
Citibank’s incumbent media agency in Hong Kong is MEC, a partnership that has spanned more than 10 years.
A spokesperson from MEC confirmed to Marketing that the Hong Kong office has received a heads-up from Citibank HQ about the review, but Citibank Hong Kong has yet to comment on the matter.
Citibank was one of the top banks in overall ad spend in the banking and investment services last year which saw a 16% YOY growth, according to admanGo. However, its ad expenditure dropped 24% in the first quarter of 2015, amounting to around HK$28 million.
The overall banking and investment services category in 2015 Q1 remained the top industry in ad spending, with 17% YOY growth to HK$1.07 billion as of March 2015.
Citibank’s parent company CitiGroup has about 200 million customer accounts with operating business across more than 160 countries and jurisdictions in the world.
Source: http://www.marketing-interactive.com/citibank-hong-kong-calls-for-media-agency-review/
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