UAE: Citibank Launches New UK-Based Investment Service

24 September 2006

Dubai – Citibank, a member of Citigroup, has launched a new banking and investment service for residents of the UAE who wish to take up the broad range of international investment opportunities available through the bank’s offices in London and Jersey.

Citibank International Personal Bank (Citibank) for the EMEA region is based in London and Jersey and provides clients with a personalized service to help them manage and grow their wealth through long-term wealth advisory planning, savings and investments. A dedicated relationship manager will conduct a free financial health-check to help build model investment portfolios tailored to a client’s personal needs. Citibank International Personal Bank also offers multi-currency bank accounts, time deposits and 24/7 Internet banking.

Investing through Citibank International Personal Bank London caters for the varied financial needs of local investors, while the Jersey office meets the needs of U.K. and other expatriates working in the Middle East who want one point of contact for their global investment needs.

“One of Citibank’s key strengths is our ability to offer full range of financial needs that provide customers with the utmost convenience,” said Sanjoy Sen, Citibank’s Country Business Manager for the UAE. “We can now offer our customers the benefits of investment options that span all asset classes and different geographies that are available through London and Jersey from right here in local our branches or their own homes,” adds Mr. Sen.

Jean-Louis Guisset, Head of the Citibank International Personal Bank in London, said: “UAE is one of the priority countries for Citibank International Personal Bank due to the close ties that many residents of the UAE have with the U.K. We can compliment the products and services being offered by Citibank locally to help clients broaden their investment horizons and provide them with a base in one of the most prominent financial centres in the world.”

Citibank’s International Personal Bank operates from 14 offices around the world and has over 170,000 customers and nearly US$28 billion of client assets under management.

Citigroup has been in the Middle East for nearly 50 years and currently offers consumer banking services in the UAE, Bahrain, Egypt and Pakistan. In the UAE/Bahrain alone, Citibank, the consumer banking arm of Citigroup, has had a presence for the past 42 years, and is expanding its major operations within the country. The bank is currently a major player in the UAE’s credit card market and a leading provider of banking, wealth management and consumer credit services.

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