History

Citi has been present in the Middle East for more than 50 years, primarily through Citibank. The bank is directly represented in main markets, including the UAE, Egypt, Qatar, Kuwait, Jordan, Bahrain, Lebanon, Algeria, Tunisia and Morocco. It has more than 30 branches and offices in the region. Across the region, the bank offers a range of corporate finance services, including securitization, project & structured trade finance, syndication and advisory.

In 2006, Citi opened its regional Middle East office at Dubai International Financial Centre (DIFC) following approval by the Dubai Financial Services Authority to operate as an authorized firm at the DIFC in mid-2006. Today, the DIFC houses Citi's Middle East Division management, Investment Banking and Equity businesses in the MENA region along with Islamic Banking and non-UAE regional banking businesses. In 2007, the bank established a dedicated MENA-level equity research team covering major sectors (banks, construction, telecom) operating out of the DIFC.

Citi's journey in the United Arab Emirates started in 1964 when Citibank, a member of Citi, opened its first branch in Dubai followed by Abu Dhabi in 1971. Since then, the bank has been known for delivering excellence and consistently introducing world-class banking products and services to UAE market.

Over the years, Citi has pioneered a host of banking deals, products and practices in the UAE including:

  • Cash Management system allowing local customer and the Central Bank access their accounts with Citibank New York
  • 24-hour phone banking services
  • Model Branch concept
  • Priority banking services, Citigold, for high-net-worth individuals
  • First credit card in the UAE that allows users to earn travel miles
  • Photo Sign credit cards
  • Online Fraud and Risk Management System
  • First bank in the UAE to offer mutual funds services online
  • Introduced first payment gateway in UAE
  • First major step in establishing B2B and B2C business
  • First bank in the UAE to offer online brokerage services

Businesses

In the wider Investment banking space, Citi differentiates itself by combining a world class M&A and Capital Markets practice with a long established regional banking presence. This unique mix of global product and industry expertise, strong local relationships and the most extensive international network, allows Citi to deliver holistic and innovative solutions to clients and meet the increasingly complex strategies of its regional client base in the Middle East in an ever changing financial landscape.

Throughout this period Citi came ahead of the completion across all main categories and was particularly recognized for advising on critical M&A deals and customizing innovative financial solutions on behalf of clients in the UAE.

Citibank leads UAE's credit card market, and it is a major provider of consumer credit services, including personal loans.

The bank's branch network in the UAE includes four branches in Dubai, Sharjah and Abu Dhabi, one Financial Center, two smart branches and a network of 56 ATMs.

Euromoney named Citi Best Bank for Corporate Social Responsibility in the Middle East in 2017, Best M&A House in the UAE in 2013, Best Investment Bank in the Middle East in 2018 and 2012, and Best Investment Bank in the UAE in 2011.

In 2017, Citi won several top awards in the International Financing Review's 2017 Awards, including Bond House and Bank for Governments, as well as Credit Derivatives House.

Community

Citi has played an instrumental role in introducing financial literacy and entrepreneurship programs that target local talent and aspiring entrepreneurs in the UAE.

The bank has forged successful partnerships with top academic institutions, such as Higher Colleges of Technology, the University of Dubai, Abu Dhabi University, Sharjah Women's College, Ittihad University, the University of Ras Al Khaimah and Emirates Institute of Banking and Financial Studies.

Further Information

Visit the Citi UAE website:
www.citibank.ae

Or call our 24 hour CitiPhone Banking line: +971 4 3114 4000

If you are interested in career opportunities at Citi, visit http://careers.citigroup.com/Careers/ or http://www.citibank.ae/uae/consumer/info/citibank_careers.htm

For More Information:
General Information
24-hour CitiPhone Banking
Phone: +971 4 3114 4000 or + 971 4 509 9790
Email: uaeservice@citi.com
Citi
Dubai International Financial Centre
Building 2, Floor 3
P.O Box 506560
Dubai
United Arab Emirates
Media Relations:
Tara Sirinyan
Email: tara.sirinyan@citi.com

For more information, please
call our 24 hour CitiPhone Banking line on
+971 4 3114 4000