Citigroup, which recently exited consumer banking business in Greece, Turkey, Pakistan and Romania, is targeting expansion in the UAE.
In UAE, the bank intends to focus on globally-oriented affluent customer segment for the consumer banking business.
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Highlighting UAE’s growth potential in the corporate and institutional business, Jim Cowles, Citi EMEA CEO, stated: "We have been observing the trend of a large number of multinationals and regional businesses anchoring their regional and global operations from the UAE. Our global markets access and expertise can add great value to these customers."
The bank is actively supporting UAE’s local corporate sector, particularly globally-oriented UAE and Gulf-based companies.
The bank also sees significant growth potential in peripheral European countries including Portugal, Ireland, Italy, Greece and Spain, as well as the sub-Saharan Africa region.
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