Citi granted license to set up Citibank branch in Abu Dhabi | Reuters

Citi granted license to set up Citibank branch in Abu Dhabi | Reuters:

Citigroup has been granted a license to set up a branch of Citibank at Abu Dhabi Global Market (ADGAM), a financial center in Abu Dhabi, it said on Tuesday.

The new branch will provide liquidity management to Citi’s clients looking to establish regional treasury centers in the United Arab Emirates, as well as offering institutional banking services to its global clients, it said.

Citi is expanding in the United Arab Emirates where it has provided wholesale and retail banking since 1964, and in neighboring Saudi Arabia where it plans to apply for a full banking license.