Citibank Thailand will maintain its focus on consumer finance and wealth management even as its peers are looking to expand into wholesale banking.
Citi will focus more on high-net-worth clients this year by offering more products and services, says Mr Rajashekaren.
N. Rajashekaren, country business manager of Citi Thailand, said the bank's operating results are satisfactory and business volume has increased after the opening of two new branches over the last two years.
Citi Thailand is the only international bank here that provides retail banking business such as credit cards and consumer loans. The bank now has three full branches including its headquarters in Bangkok
The bank intends to open more branches in Thailand if conditions are favourable.
It is now in talks with the Bank of Thailand about the possibility of a new branch, and Mr Rajashekaren hopes the central bank will ease the regulations in the near future.
In the second phase of the central bank's financial sector master plan, foreign banks with a branch in Thailand are required to convert it into a subsidiary, which can have a maximum of 20 branches and 20 off-premise ATMs without limitations on location.
Mr Rajashekaren said the required structure poses a problem, as the bank's credit rating is now above Thailand's credit rating and may have to be cut to be in line with the country's rating.
However, the banking business in Thailand is highly competitive, especially in the retail segment.
Citi Thailand lags other retail banking-oriented banks due to its limited number of branches but has an edge over others in terms of innovative products and international networks.
Mr Rajashekaren said Citi Thailand's retail business has been expanding continuously.
Credit card spending, especially outbound, has risen steadily, as customers recognise Citi's networks worldwide.
Despite stiff competition in consumer lending and credit cards in Thailand, Citi sees room to grow and pursue its service and product expansion in the segment, said Mr Rajashekaren.
The bank can keep its non-performing loans at a low level, he said without elaborating on the figures.
"Wealth management is the area in which foreign banks have a competitive advantage, and this year we're focusing more on this area to provide products and services to high-net-worth clients," said Mr Rajashekaren.
To tighten its relationship with privileged customers, Citi Bank launched the Citi Wealth Internship Program 2013 (Citi WIP) by inviting 15 high-potential university students who are also immediate descendants of Citigold's clients to learn the secrets of wealth management and investment planning so they can enhance their business prosperity.
Citi WIP was initiated for the first time with the aim of providing new experience to the clients and their family members. The two-week intensive course included an excursion trip abroad.
Vanila Srifuengfung, a student at England's University of Bath, said: "What I've gained from this programme is not only the ability to meet new people and make new friends but also a chance to learn from people who have real experience in investment."