Text size:

  • Small
  • Normal
  • Large

Al Ain customers hit by Citibank closure

Closest branch about 100km away after city unit is shut down. Expert says closure should not affect customers who use e-banking while bank states one stop solutions available at Mussaffah branch for affected customers.

DUBAI // Citibank customers in Al Ain will be forced to make a return trip of about 200 kilometres for services after the bank closed its branch in the city last month.

Citibank informed customers about the opening of a branch in Mussaffah, resulting in the end of operations in Al Ain city on November 15.

"Please be informed that our Al Ain branch will be relocating to Mussaffah, which is a new development area in Abu Dhabi."

The closure comes after the bank's announcement of 11,000 job cuts worldwide in an attempt to increase efficiencies and focus on growth in emerging markets.

Citibank, the third-biggest international bank operating in the UAE, said it planned to open a new branch in Abu Dhabi.

It is also moving its Salam Street branch to the Al Kheyeli Building on Al Falah Street in the capital.

Citibank officials were unavailable for comment yesterday regarding the number of customers that will be affected and whether employees were laid off in the closure.

A notice on its website said that the new branch in Mussaffah would provide "one stop" solutions in smart banking to customers "such as interactive touch panels, real-time online banking and an entire spectrum of product suites".

Muhannad Beisky, a business professor and independent investment consultant from Al Ain, said it was not surprising that the United States bank pulled out of the city as more local banks opened for business.

"Citibank may not have a huge customer base, which makes running a fully fledged branch here impractical," said Mr Beisky.

"There are more than 25 different banks in Al Ain city and each has more than two or three branches. The market is satisfied with the banking services available."

Mr Beisky said that the closure would not affect too many customers because many had opted for ebanking.

"That is the solution and the more diversified it becomes there is no need to run a physical office in areas with fewer customers," he said.

He added that customers were also looking for banks they could access at convenient locations such as shopping centres.

"A lot of banks like National Bank of Abu Dhabi, Dubai Islamic Bank, Al Hilal have opened in malls and that makes them convenient," Mr Beisky said.

 

aahmed@thenational.ae

Back to the top

More articles


Editor's Picks

 Al Fayah Park will be located on Sheikh Rashid Bin Saeed Al Maktoum Street opposite the Dome@Rawdhat. Courtesy Salama bint Hamdan Al Nahyan Foundation

In pictures: Abu Dhabi’s new Al Fayah Park

The plans for the new 125,000 square metre Al Fayah – which means 'shade' in Arabic – Park were unveiled on Tuesday at Cityscape Abu Dhabi.

 Faqar, a Baluchi labourer, is illuminated by the dappled light filtering through the palm leave canopy of the garden he is irrigating via an age old Falaj system, or water channels, used to irrigate the palm gardens of Al Ain. Antonie Robertson / The National

Focal Point: Immersed in an Al Ain oasis

Photographer Antonie Robertson immerses us in an Al Ain oasis

 Manager Jose Mourinho of Chelsea looks on from the dug out during the Champions League semi-final first leg match against Atletico Madrid on Tuesday. Paul Gilham / Getty Images / April 22, 2014

‘Now the game of our lives is at Stamford Bridge’ says Mourinho after Chelsea, Atletico draw

After Tuesday's scoreless draw, Jose Mourinho revealed Petr Cech's season was over and John Terry was also done unless they could reach the Champions League final.

 Mumbai Indians fans cheer they team on the opening match between Mumbai Indians and Kolkata Knight Riders in IPL 2014 at Zayed Cricket Stadium in Abu Dhabi. Ravindranath K / The National

Earn cash back with the IPL cricket in the UAE

Dunia finance promotion allows cricket lovers to earn up to 6 per cent unlimited cash back on any spending they make on a day when an IPL match is played in the UAE.

 Khalifa Bin Zayed Air College students participate in the 2014 Innovation Challenge. Delores Johnson / The National

In pictures: UAE Innovation Challenge 2014

The ngineering competition brought together almost 100 students from across the country compete in teams to build the best unmanned aircraft.

 Former Manchester United manager David Moyes, right, speaks to Manchester United's Welsh midfielder Ryan Giggs during a training session at the team's Carrington training complex in Manchester, north-west England on April 22, 2014. Andrew Yates / AFP

Giggs a better fit for Manchester United than Moyes

The winger, who has played 962 games for the club, has been placed in interim charge of the first team and will be assisted by his former Manchester United teammate Nicky Butt.

Events

To add your event to The National listings, click here

Get the most from The National