Citibank prepares to enter small companies segment

US-based Citibank will soon launch services directed at companies with turnovers lower than two million dollars, which will enable it to cover the entire corporate segment. “We want to expand our product portfolio, so as to target all types of companies, including those with turnovers of less than two million dollars, for which we have not offers available yet. The project will be completed in the near future,” said Shahmir Khaliq, general manager of Citibank Romania. The Americans entered the local market as early as 1995, but have focused on large companies, and are perceived as an elitist bank. After the turmoil that affected the international financial markets, Citi has revised its strategy, focusing more on its presence on emerging markets, including inCentral and Eastern Europe, where it aims to develop all its business lines. However, Citibank prefers to stay out of the real estate market, which has brought significant increases for local players. “Citi’s policy internationally is not to get involved in funding for the development of real estate projects, and we will follow it on the local market as well. We could consider introducing mortgage loans for retail clients, but I don’t think it will happen in the near future,” says Shahmir Khaliq.