Citi offers to help firms expand

KUALA LUMPUR: Citi is looking to partner with more local companies to help them expand into countries participating in China’s Belt and Road Initiative (BRI), and amid the rise of infrastructure development and increasing regional trade.

Citi Malaysia chief executive officer Lee Lung Nien said Citi was currently serving clients in 58 of the 65 BRI countries.

“In the 1860s, the bank supported the laying of the first transatlantic cable and in the 1900s, the opening of the Panama Canal.

“The BRI is similarly as ambitious, and is not just about helping Citi’s clients with their trade, but also areas ranging from capital markets, lending, securities services, advisory, foreign exchange hedging and interest rates across different currencies and managing cash management needs,” he said.

Citi Asia-Pacific chief executive officer Francisco Aristeguieta said the BRI was a transformational global project that enabled economic growth and progress and the bank was ideally positioned to be the partner of choice for clients who wished to participate in the initiative.

Citi recently hosted more than 220 clients at the bank’s Belt and Road Forum in Beijing, underlining its commitment to supporting its Chinese and global clients with the opportunities offered by the BRI.

The forum included overviews and updates from Citi’s team of senior executives from many of the 58 markets the bank covers across the BRI.

Also covered was an overview of Citi’s capabilities across the BRI from areas such as corporate and investment banking, treasury and trade, lending and local markets.