Gulf demand for corporate loans down in 2021: Citigroup MENA CEO

The retail loan requests grew by 2.3% this year

  
The Citigroup sign is seen outside the Citigroup Center in New York, October 1, 2007.

The Citigroup sign is seen outside the Citigroup Center in New York, October 1, 2007.

REUTERS/Shannon Stapleton
 
RIYADH: Corporate loan applications dropped this year in the Gulf region, while consumer retail loans saw a rise compared to 2020, the CEO of Citigroup MENA has revealed.

The retail loan requests grew by 2.3 percent this year, Elissar Fara Antonios said in an interview with Al Arabiya.

The banking sector in the region has excess liquidity that enables it to support the recovery of economies, she said.

Antonios added that there is an increase in the activity of offerings and mergers in the region, with expectations of witnessing greater activity and expansion with the opening up of sectors such as travel and tourism.

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