History

Citibank Maghreb S.A. "Citibank Maghreb" has been operating in Morocco since 1967 as a majority-owned fully licensed banking subsidiary of Citibank N.A. ("Citi"). With two branches in Casablanca and Rabat, Citibank Maghreb is member of GPBM (Groupement Professionnel des Banques au Maroc) and has direct access to local regulatory bodies, notably the Foreign Exchange Control Office and market infrastructures for our securities funds business. Citibank Maghreb was the first bank in Morocco to introduce e-banking for cash management and FX hedging, allowing its clients to consult their accounts, initiate payments through an online and real-time system and execute FX transactions online. All systems are state-of-the-art, fully integrated Citi systems used by the bank globally. We are the only U.S. bank with a licensed presence operating in Morocco.

Businesses

Citibank Maghreb is primarily engaged in corporate and investment banking with four customer segments covering multinational clients, large Moroccan corporations, the public sector and financial institutions.

The bank also offers custody to local and international accounts for listed securities and bonds and is the leader in the market for foreign custody in terms of asset under custody and turnaround trading.

Backed by an unparalleled international network, Citibank Maghreb has access to an unrivaled array of products, covering all clients' requirements, ranging from cash management to strategic advisory.

Financial Institutions Sector: Over the years, Citibank Maghreb has developed a leading position in the Moroccan financial institutions market. Our ability to offer innovative products to meet client needs in terms of foreign currency financing has positioned the franchise into a lead bank in this segment. Our portfolio of products includes M&A advisory, international bond issuance, OPIC guaranteed financing, trade advances for the refinancing of large transactions (such as import of soft and hard commodities), confirmation and discounting of letters of credit, correspondent banking clearing services and cash management tailored solutions.

Corporate Sector: Citibank Maghreb prides itself with its strong relationship with subsidiaries of its global clients and top tier local corporates. It has introduced several new import financing products to help companies optimize their working capital management. The product offering includes bills discounting, local currency lending, foreign currency import financing and account receivables discounting. We also have launched a supplier finance program through Citi's global electronic platform "Citiconnect," which allows buyers to negotiate extended payment terms or cost price discounts, thereby improving working capital and/or reducing cost of goods and facilitating access to cash for suppliers.

Public Sector: Citi has adopted a client specific public-sector strategy globally to support governments and public sector companies. Citibank Maghreb works closely with its global product partners to service the public sector in Morocco. Citi has worked with the Moroccan government and public sector companies on a wide range of services, including access to international debt capital markets, financial advisory and export credit agency financings.

Further Information

Citibank Maghreb S.A. - 2016 Financial Statements

Citibank Maghreb S.A. - Annual Report 2015 | Rapport Annuel 2015

Citibank Maghreb S.A. - 2015 Financial Statements

For More Information:
Public Affairs Officer
Hasna Boufkiri
Email: Hasna.boufkiri@citi.com
Citibank Maghreb S.A.
R.C. 29941
Address:
Zenith Millenium, Lotissement Attaoufik
Immeuble 1, Sidi Maarouf, Casablanca 20190
Morocco
Phone: +212 522 489 600