Citibank plans to open 15 to 20 new outlets this year on China's mainland as the American bank seeks to put the financial crisis behind it to speed up its expansion to ride on China's growth.

The New York-based bank will keep its investment in network and products in China despite the current global financial turmoil, its retail banking head on the mainland said yesterday.

The bank has gained regulatory approval to open new outlets in Wuxi, Jiangsu Province, and Chongqing Municipality. It also plans to open a credit company in Chongqing.

The bank is also in talks with mutual fund houses on mutual fund distribution.