Mashreq is holding talks with Citigroup about acquiring its retail banking business in Egypt and is targeting net profit growth in 2015 of between 6 per cent and 10 per cent, the Dubai bank's chief executive said on Sunday.
Mashreq, Dubai's third-biggest lender by assets, is interested in acquiring Citigroup's Egyptian retail business, Mashreq's chief executive said on Sunday.
The bank is holding talks with Citi on the matter, Abdul Aziz
Citigroup has received 10 bids for its consumer banking business in Egypt, three sources with knowledge of the matter said on Tuesday, with banks from the UAE heavily represented among the interested parties.
Emirates NBD (ENBD) a
Three companies have emerged to make a joint bid for Citigroup’s credit card business in Japan, the Nikkei reported, as the US lender goes ahead with plans to exit consumer banking in the country.
Shinsei Bank, department st
Bahrain’s leading telecommunication operator Batelco has mandated Citigroup to sell its Jordanian mobile operator Umniah, two sources familiar with the matter told Reuters.
Umniah, Jordan's No 3 mobile operator by subscr
The European Central Bank (ECB) has dropped Citigroup from its experts' working group on foreign exchange, days after the US bank was fined by US and UK regulators for failing to stop traders from trying to manipulate the currency market.
Global regulators imposed penalties totalling $3.4 billion on five major banks, including UBS, HSBC and Citigroup, on Wednesday for failing to stop their traders from trying to manipulate foreign exchange markets.
Royal Bank of Sc
Citigroup said it was pulling out of consumer banking in 11 markets, including Japan and Egypt, as the US bank with the biggest international business looks to cut persistently high costs.
The third-largest US bank, built with a s
Citigroup reported a stronger-than expected adjusted quarterly profit as its fixed-income business performed ahead of forecasts, and the bank cleared another hurdle by reaching a $7 billion settlement over its sale of flawed mortgage securitie
Citigroup has named Carmen Haddad as its new chief executive officer for Qatar, the US lender said on Monday.
Haddad is currently head of Citi's private banking business in the Gulf and Egypt. He will continue in this role, as