Cit­i­group given green light to ex­pand into Abu Dhabi

EME Outlook - - News -

Bank­ing group Citi is to open a new Citibank branch in Abu Dhabi as it con­tin­ues ex­pand­ing in the UAE.

The branch will be lo­cated at Abu Dhabi Global Mar­ket and will pro­vide liq­uid­ity man­age­ment and in­sti­tu­tional bank­ing ser­vices to Citi clients.

The Amer­i­can firm has been present in the coun­try since 1964 and is also look­ing to grow its reach in Saudi Ara­bia by ap­ply­ing for a full bank­ing li­cense.

Abu Dhabi Global Mar­ket has emerged as an im­por­tant fi­nan­cial hub since it opened in Oc­to­ber 2015, with Citi’s li­cense granted dur­ing a site visit by CEO Mike Cor­bat.

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