Citigroup wins 'Bank of the Year' at Euromoney awards
JEDDAH, August 26, 2015
The Citigroup has won the 'Bank of the Year 2015' accolade at the Euromoney award for excellence recently.
Kingdom Holding Company (KHC) and its chairman Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud are among largest investors in Citigroup, said a statement.
The 2015 Euromoney awards for excellence report stated that Citi is the last global wholesale bank offering all products to its clients everywhere, it said.
It operates in 100 countries and boasts a payment system handling $3 trillion of transactions a day, which no other bank is ever likely to emulate.
In 2008, Prince Alwaleed participated in a $12.5 billion private offering of convertible preferred securities of Citigroup, said the statement.
The new direct investment was made alongside an exclusive group of leading international investors. The Prince converted the preferred shares in 2009 into common shares (voting shares), it added. - TradeArabia News Service
