Citibank U.A.E.: Connecting the Emirates to a Global Financial Network

Citibank U.A.E. began in 1964 by opening its first branch at Dubai. Being one of the first international banks to tread the region, it soon became a forerunner in the financial services space. The second branch was opened at Abu Dhabi in 1971, which signalled the bank’s expansion in the Emirates. Today, Citibank U.A.E. offers its large banking solutions at full service-branches in three of the seven Emirates—Abu Dhabi, Dubai, and Sharjah.

Citibank U.A.E. has a diversified portfolio of financial products and services suitable for individual as well as institutional clients. These include consumer banking solutions in the form of credit cards, personal loans, and savings accounts and corporate and investment banking services. To add to this, Citibank U.A.E. offers institutional equity research and sales, foreign exchange services, and commercial banking. In addition to this, it has been focused on digital transformation through the E-Brokerage platform of the bank. The facility, based in Dubai International Financial Centre (DIFC), serves the do-it-yourself (DIY) investor so that he can trade and monitor his accounts online. There exists the sort of digital brokerage that charges 1% of the amount traded per transaction and custody of 0.2% on an annual basis, offering investors a flexible and convenient way to manage their portfolios.

Citibank U.A.E. as part of its commitment towards offering cutting edge banking solutions has embraced digital wallet technology. Though the bank had earlier operated its own mobile wallet, Citi Pay, which is no longer in operation post 2019. Yet, it has gone on to collaborate with popular apps like Apple Pay and Google Pay. From 2023 onwards, Citi Mastercard credit card users can make secure payments through these digital wallets, which would be another success for the bank to continue its operations in addressing the demands of consumers. Citibank U.A.E. has stated specific account conditions. Citibank U.A.E. has maintained a minimum balance requirement to open a low-value current or checking account for the past five years. For 2015 onward, the basic current or checking account has a minimum balance condition of holding at least AED 35,000 in another currency for new clients. The individualized financial solutions remain the main focus; excellent high-end service is provided to high-value clients.

Citibank U.A.E. has remained as one of the key regional hubs for capital markets and investment banking operations. Operated out of Dubai’s DIFC and Abu Dhabi’s Global Market, ADGM, Citigroup Global Markets Ltd. and Citibank, N.A. license the bank. This strategic positioning allows Citibank to provide a range of services-from corporate advisory to capital markets financing and investment banking solutions-to every kind of business. Citibank U.A.E. subsequently serves as an offshore booking center, facilitating clients in their ability to maximize their tax strategies and to better manage their cross-border financial needs through loans and other financial products.

Positioning itself appropriately to carry on the legacy of innovation and customer-centric solutions, the bank is one of the leading international banks in the region. Indeed, its deep roots in the UAE and its global outreach would place it in an important position making defining contributions to the future of banking in the Emirates.

Whether you are a private client seeking tailored financial solutions or a corporation desirous of access to international markets, Citibank U.A.E. offers you the expertise, technology, and solutions to achieve your goals. Citibank U.A.E. is committed to empower clients and support them in succeeding in this dynamic financial environment.