Citigroup given green light to expand into Abu Dhabi

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.