The new Citi branch will provide cutting-edge liquidity management solutions to its clients looking to establish regional treasury centres in the UAE.
Citibank has been granted a licence by Abu Dhabi Global Market (ADGM) to set up a branch at ADGM.
In a statement, the lender stated that upon receiving final approval from the Financial Services Regulatory Authority (FSRA) of ADGM, the branch will also offer the full suite of Citi’s institutional banking capabilities to its global clients.
Elissar Farah Antonios, Citi Country Officer-UAE, said that, the ADGM platform complements the bank’s footprint in the region and enables the lender to engage in a wide spectrum of wholesale banking business out of Abu Dhabi.
“I look forward to Citi adding to the vibrancy of the market and expanding the available banking and financial offerings,” added Richard Teng, CEO of FSRA.