Citibank Launches New Global Corporate And Investment Banking Office In The Bahamas

Amanda Banks, Tax-news.com, London

03 April 2001

Citibank has officially opened its Global Corporate and Investment Banking (GCIB) office in the Bahamas, representing the Northern Caribbean region and offering a comprehensive range of corporate banking and investment services. Speaking at the GCIB launch, Carmen Butler, Citibank's country corporate officer, said: 'Our Corporate bank offers both growing and established businesses a variety of products and services designed to enhance their financial operations. We have solutions to meet virtually any need, and it is these solutions and our unmatched advisory services that have made us a recognized leader in the industry.'

Vice President and Regional Executive for Citibank International, Mr. Suresh Maharaj, said that Citibank (which has an established presence of over thirty years in the Bahamas) plans to 'assist in the development of the local capital markets [and] help sharpen the financial industry along with our colleagues in other financial institutions who share our commitment to the Bahamas ... we are committed to providing our customers with the most innovate and comprehensive financial and commercial solutions available [and] look forward to continue to be an active member of this community.'

Prime Minister Hubert Ingraham opened the new GCIB branch saying that it was a clear expression of Citibank's confidence in the jurisdiction's financial services sector. He said: 'Let me say that my government believes that your [Citibank] confidence is well placed. The sound economic performance of our country gives us every reason to be optimistic about the future. We believe that our country is resilient and will continue to flourish and we appreciate institutions which demonstrate their friendship and confidence in our future, as obviously does Citibank.'

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