Citi clients see significant opportunities in Saudi Arabia, says CEO

Saudi Arabia Capital Market Authority gave Citi the license to operate in 2018

  
Image used for illustrative purpose. People walk beneath a Citibank branch logo in the financial district of San Francisco, California July 17, 2009.

Image used for illustrative purpose. People walk beneath a Citibank branch logo in the financial district of San Francisco, California July 17, 2009.

REUTERS/Robert Galbraith

DUBAI: Clients of global banking group Citi are seeing “significant opportunities in Saudi Arabia,” CEO Jane Fraser said, as the bank ends a high-profile delegation visit in the Kingdom.

The delegation, led by Fraser, met with key government officials and selected clients to talk about Citi’s work in the region’s largest economy, the bank said.

“Accelerating economic integration and diversification are key to Saudi’s plans to continue to build an economy and a society in which all its citizens thrive. We support the country’s bold Vision 2030,” she explained.

The three-day visit concluded with a female-focused session on diversity and leadership with a youth advisory board from Saudi Aramco.

The Saudi Arabia Capital Market Authority, which regulates banks and financial institutions in the Kingdom, gave Citi the license to operate in 2018. Since then, the company has been involved in investment banking, capital markets, and research services.

Earlier, Citi signed an agreement with the Kingdom’s Ministry of Finance to explore the possibility of joining the country’s Primary Dealers’ Programme for local government debt instruments.

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