The new private pension product of AvivaSA will be sold in Citibank branches with 150 TRY contribution rate per month and low management expenses.
- Citibank will provide AvivaSA's private pension products in 15 cities via 57 branches according to a recently signed agreement between AvivaSA and Citibank Turkey
The new private pension product of AvivaSA will be sold in Citibank branches with a 150TRY contribution rate per month and low management expenses. The product aims to provide a higher quality of life to customers in their retirement and collect the necessary savings needed for their extra expenditures.
Cenk Tabakoğlu, Citibank vice president & wealth management head, said: "In Turkey, although it does not have a long history, two million people are benefitting from the Private Pension Plan System. We know that private pension plans are growing in high speed from a volume of 5 billionTRY to bigger amounts."
He stated that through this collaboration with AvivaSA, Citibank aims to meet the needs of their private pension customers in the best way possible through their branches and direct insurance sales teams.
Uğur Gülen, AvivaSA banking insurance vice president, emphasized their wide and unique multi-distribution channel in the private pension system and said: "We want to reach more people with private pensions through this structure, especially via the bank distribution channel. In order to meet this aim, we are working on developing new distribution channels. We also want to increase our penetration via the support of strong partnerships."
Uğur Gülen concluded: "We are very excited that Citibank, a global bank, will provide our private pension products to their customers with high quality service."
-ends-
For Information:
Filiz Kaplanseren - filiz.kaplanseren@globaltanitim.com
Esra Zincirkıran Aydın - esra.zincirkiran@globaltanitim.com
Global Tanıtım (0212 270 52 32)
Notes to editors:
About AvivaSA
AvivaSA with its headquarters in İnkılap Mah Küçüksu Cad Akçakoca Sok No: 8, Ümraniye-İstanbul, has a wide service network in Turkey through its regional offices and agencies, approximately 2,300 employees and 1,950 finance experts. AvivaSA conducts its operations with 35,779,197 TRY paid capital as well as the support of the Sabanci Group. According to the data taken from Pension Monitoring Centre by 8 August 2008, AvivaSA is the leader of the private pension sector with over 1,25 billion TRY fund capacity and 23.24% market share. For more information: www.avivasa.com or www.avivasa.com.tr
About Citibank (Citi):
Citi is one of the biggest global finance companies operating in more than 100 countries and providing service to approximately 200 million customers. Citi is providing a wide variety of services such as retail banking, credit and corporate banking, investment banking, stock buy and sell services and assets management to customers, corporations, governments and other institutions. City holds the brands such Citibank, CitiFinancial, Primerica, Smith Barney, Banamex and Nikko under its name. For more information: www.citigroup.com or www.citi.com.