Citi is the first foreign bank to be established in Algeria. Our presence in Algeria is a clear demonstration of the Algerian government's determination to attract foreign investment and to direct the national economy increasingly towards foreign markets.
We have had a significant involvement in Algeria for many years in areas such as correspondent banking, trade finance and corporate finance. As a reflection of the importance of this relationship, a representative office was established in Algiers in 1991, and in 1997 we were the first foreign institution to apply for and obtain a commercial banking license. Our full-fledged branch opened for business in 1998.
We provide trade, foreign investment, cash management, treasury services and corporate finance, all of which involve close collaboration with Algeria's leading banks. Citibank Algeria has been involved over the last few years in the arranging and financing of major projects in Algeria in various sectors of the economy, including construction (cement and desalination plants), telecommunication and energy. Citibank Algeria is also a primary dealer in T-bills.
We offer a range of banking services to companies, including commercial finance, inter-bank transactions, investment services, deposits, cash management and electronic banking. We assist our customers with managing their finances to increase the value of their investments and finance their projects.