CITI Singapore has sent a letter to all its customers to reassure them about the bank's financial strength and continuing commitment to serve all their financial needs.

This comes in light of what the bank calls 'unprecedented market events of this week', which compelled the US government to step in to rescue insurer group AIG, while opting to allow another, Lehman Brothers Holdings, to fail.

Citi, in the letter dated Sept 17, said its net exposure to Lehman and its subsidiaries is modest and is being managed in an orderly fashion. It also points out that its business in Singapore is financially strong and well capitalised.

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