Citibank Expands Global Reach Amid U S Holiday Closures

On February 16, 2026, Americans hoping to visit their local bank branch will find the doors firmly shut. From Bank of America and Wells Fargo to Chase, Citibank, and a host of other major financial institutions, all branches across the United States will close their doors for Presidents’ Day—a federal holiday that’s long marked a pause in business as usual. But while the physical locations will go dark for 24 hours, the digital world keeps humming: online banking and ATM transactions will remain fully operational, ensuring that essential services stay within reach for customers who need them.

This annual closure is hardly a surprise for seasoned account holders. As outlined by the Federal Reserve, banks observe 11 federal holidays each year, with some dates fixed and others shifting depending on the calendar. If a holiday lands on a weekend, the day off is either moved back or pushed forward, ensuring workers still get their well-earned break. For 2026, in addition to Presidents’ Day, bank branches will shutter on Memorial Day (May 25), Juneteenth Day (June 19), Independence Day (observed July 3), Labor Day (September 7), Columbus Day (October 12), Veterans Day (November 11), Thanksgiving Day (November 26), and Christmas Day (December 25). New Year’s Day and Martin Luther King, Jr.’s birthday have already come and gone, with their closures observed earlier in the year.

While the holiday is a brief inconvenience for some, it’s a reminder of the evolving nature of banking in the digital age. Even as bricks-and-mortar locations pause, customers can still check balances, transfer funds, or pay bills using mobile apps and ATMs. There’s a catch, though: any payments scheduled on Presidents’ Day itself will only begin processing once banks resume operations on the next business day. So, for those with time-sensitive transactions, a little advance planning is still the name of the game.

Beyond the annual rhythm of holidays, Citigroup and its global branches are making headlines for reasons that extend far beyond the U.S. calendar. In Asia, Citi Singapore and Citi Hong Kong have launched new evergreen private funds for high-net-worth clients, rolling out in January 2026. Developed in strategic partnership with investment giants Blackstone, Blue Owl, and KKR, these funds are designed to give Citigold Private Clients in Asia and the Middle East unprecedented access to private equity, credit, infrastructure, and real estate opportunities. Unlike traditional closed-ended private market solutions, these evergreen vehicles offer more flexible subscription and liquidity terms—though they still require a minimum initial holding period.

Yeo Wenxian, Citi’s head of wealth for Asia South, expressed enthusiasm for the collaboration, stating, “We are excited to work with Blackstone, Blue Owl and KKR to leverage their industry leadership, investment expertise and robust deal-sourcing capabilities.” Vicky Kong, who heads wealth for Asia North and Australia at Citi, added, “In today’s complex and volatile market, our clients are rightly seeking resilient, diversified sources of returns beyond traditional public markets.”

For individual investors, this marks a notable shift. As Jacqueline Zhuang, managing director and head of global wealth solutions Asia Pacific ex-Japan at KKR, put it: “Individual wealth investors expect access to the same private markets investment opportunities as institutions.” Ed Huang of Blackstone echoed that sentiment, emphasizing, “We remain committed to expanding access to institutional-quality private market opportunities for Citi’s high-net-worth clients, helping them diversify their portfolios.” Blue Owl’s Sean Connor called the partnership “a critical milestone in our collective effort to provide best-in-class access to the private markets for investors.”

The launch of these evergreen funds has already begun, with more offerings expected in the coming months. It’s a move that underscores Citi’s ambition to cement its status as a global wealth management powerhouse, especially as market volatility pushes investors to seek out new sources of return beyond the public markets.

Meanwhile, Citi’s operations in India are undergoing their own transformation. On January 30, 2026, reports surfaced that Citigroup India is set to appoint Khurana as the new head of commercial banking, following the departure of Bhanu Vohra to consulting giant BDO in July 2025. Khurana, who brings over two decades of experience and previously served as co-head of coverage for India and South Asia at Standard Chartered Plc, steps in at a time when dealmaking in India is sharply on the rise. Equity capital markets and mergers and acquisitions are buzzing, particularly in the mid-market segment, as Indian firms ramp up operations and pursue overseas acquisitions. Citibank declined to comment on the appointment, and Khurana herself has not responded to media inquiries, but the move signals Citi’s intent to capitalize on a rapidly expanding marketplace.

Across the Pacific, Citibank Korea is making waves with its support for Korean companies aiming to establish a foothold in the United States. On January 23, 2026, Citibank Korea inked a financing agreement with Korea Trade Insurance Corporation (K-Sure) to back iMarketKorea’s industrial complex development in Taylor, Texas. As the sole lead arranger, Citibank Korea is providing a $60 million syndicated loan, supported by K-Sure’s overseas project finance insurance program. The financing is intended to ease the initial investment burden and mitigate financial risks for Korean firms seeking to expand operations stateside.

The new industrial complex is strategically located near a cluster of global semiconductor, electric vehicle, and advanced manufacturing companies—a prime spot for Korean firms eager to establish U.S. production hubs. At the signing ceremony, attended by top officials from Citibank Korea, iMarketKorea, and K-Sure, Citibank Korea CEO Yoo Myung-soon emphasized, “Leveraging Citi’s unrivaled global network and local financial expertise, we will continue to provide steadfast support to help Korean companies expand their businesses overseas and strengthen their competitiveness on the global stage.”

This initiative comes on the heels of K-Sure’s announcement that it plans to offer a record 275 trillion won ($193 billion) in trade insurance for 2026, with 114 trillion won ($80 billion) specifically allocated for small and medium-sized enterprises. The move is designed to help Korean exporters and investors manage a landscape shaped by unpredictable tariffs, fluctuating demand, and rising financing costs. Trade insurance, while not a grant, provides a financial safety net—helping exporters and their banks absorb losses if buyers default or if political or commercial shocks disrupt deals. For mid-sized firms financing overseas factories, that protection can make or break a project.

K-Sure has also been busy forging links with U.S. banks. On January 6, 2026, it signed a memorandum of understanding with Hanmi Bank in Los Angeles to back Korean firms’ U.S. expansion. K-Sure CEO Jang Young-jin said, “We hope this partnership with Hanmi Bank … will provide meaningful support to Korean companies preparing to enter the U.S. market.”

Even as Citi expands its global reach, it’s not immune to the pressures facing the banking sector in the U.S. Citibank is preparing to open a new branch in Bethesda, Maryland, this spring—taking over a spot previously held by TD Bank—despite ongoing job cuts at its parent company. Citigroup is bracing for another round of layoffs in March 2026, following the elimination of about 1,000 positions earlier in January, according to Reuters. The juxtaposition of new openings and workforce reductions highlights the complex balancing act facing major banks as they adapt to shifting economic winds and evolving customer needs.

From federal holiday closures to global expansion and innovation, Citibank and its peers are navigating a world where the only constant is change. Whether it’s helping Korean firms build factories in Texas, giving Asian investors new tools for wealth growth, or simply ensuring you can still deposit a check on Presidents’ Day, the modern bank is a study in adaptation—always striving to keep pace with a world in motion.