US-based Citibank will open its first Israeli retail branch by the end of August 2002. The Herlziya Pituach location will be the first of four branches to open in Tel Aviv, Jerusalem and Ra’anana, confirmed a bank spokesman. The source denied rumors that the expansion might be cancelled due to the deteriorating economic and security situation in the region.
Citibank has been present in Israel since 2000, providing banking and investment services for top-tier local companies, financial institutions and the public sector. The bank’s services range from cash management and electronic banking to treasury services and corporate finance.
The Group launched retail services and international personal banking services via its loan center in the Azrieli Tower in Tel Aviv this past February. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
