Frankfurt – Citi has launched its new commercial banking offering in Germany. The opening of Citi Commercial Bank (CCB) is part of a global expansion announced earlier in 2022. CCB delivers Citi's wide array of institutional products and solutions to meet the evolving needs of large Mittelstand companies and promising digital players as they scale rapidly and expand internationally.
"Around the world, large and medium-sized companies are looking for global solutions and banks that support their internationalization," said Auke Leenstra, Head of CCB Western Europe. "We are pleased to be able to offer these clients the same capabilities that we offer the world's largest companies, customized to their specific needs. Citi can deliver instant global access for established Mittelstand partners and emerging digital players with global ambitions."
Citi is a core partner to many digital and technology companies in Germany already and will grow these activities further. Additionally, CCB is now looking to support Mittelstand companies with initial focus on the industrials, healthcare and mobility space. Here, Citi has deep domain knowhow and sees exciting opportunities for growth. These sectors also align particularly well with the strengths of the German economy.
"With the Commercial Banking launch in Europe's biggest economy, we offer access to Citi's proven global network to an even wider customer base," said Kristine Braden, Head of Citi in Europe. "We have been successfully operating our Commercial Bank in Central and Eastern Europe for a number of years and have expanded into more than ten Western European countries over the last two years alone. Launching in Germany is an important step in our continued expansion in Europe over the next few years," she added.
With Citi's Commercial Banking offering, clients have the opportunity to drive digitalization, centralization and globalization at the same time – reducing overall complexity and freeing up more time and resources to focus on their core missions with greater intensity. Citi can help clients reduce the large number of foreign banking relationships needed to facilitate global expansion to become the "one" bank for all relevant jurisdictions abroad as well as products and services across the whole of Citi's offering.
"We are thrilled to offer access to Citi's reliable and proven global network of products and services to our Mittelstand and emerging digital players here in Germany. Only Citi can offer this kind of 'Plug & Play Global Access'," said Stefan Hafke, Head of Citi in Germany. "We have been active in Germany for nearly a century and are intensifying and building new long-term relationships, that we are also willing to anchor with capital."
Digitalization, rapid growth and international expansion bring many opportunities for companies, but also many challenges. Citi helps clients, for instance, to minimize the operational complexity of cross-border payments as well as corresponding currency risks. With a combination of tools, Citi enables clients to enhance their liquidity management by improving visibility and control over global cash. In addition, Citi offers access to robust sources of funding and a wide array of banking services such as Investment Banking and Private Bank offerings. Citi is pushing the digital transformation of CCB and is focused on giving clients a fast, reliable, and secure digital experience.
Citi Commercial Bank puts 200 years of experience to work for mid-sized, globally oriented companies by delivering actionable insights and ideas, comprehensive banking solutions and a truly global network. Serving clients in up to 95 countries, the Commercial Bank helps companies address the challenges of rapid growth and international expansion, enabling them to scale faster, grow larger and spur economic activity in their home markets.
The team in Germany is actively recruiting for various positions and set to expand substantially - in line with business growth.
For Job Openings please visit https://jobs.citi.com and enter search term 'Commercial Bank Germany'.
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.
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