After years of neglecting its retail network, Citibank yesterday announced the launch of a substantial investment in distribution aimed at turning around chronic under-performance in key market segments. The bank opened branches in Camberwell, Victoria, and Joondalup, Western Australia. It said the new branches were the "tip of the iceberg" in a plan to add "touch-points" over the next 18 months. The bank has already added 150 new ATMs. Citibank Australia's chief executive, Roy Gori, said in a statement that the bank was targeting affluent customers who value local and global banking services. Services in the new branches include an interactive media wall and interactive touch-screen devices. Citibank has had mixed results over the past couple of years. The value of its mortgage book has fallen 25 per cent in two years, according to Australian Prudential Regulation Authority figures. It has had strong retail deposit flows, assisted by its partnership with Virgin Money. However, its business deposit flows have plummeted. It consistently rates at the bottom of retail customer satisfaction surveys.