x Abu Dhabi, UAEThursday 18 January 2018

Al Ain closure had nothing to do with 'global repositioning', says Citibank

No employees have been affected by closure of Al Ain branch, says Citibank.

DUBAI // Citibank says it has kept all staff on after closing a branch in Al Ain last month and opening one in Mussaffah.

“The decision to relocate Al Ain branch to a different location within the emirate of Abu Dhabi follows a local business strategy,” Citibank said.

A bank spokesman said all employees from the Al Ain branch were moved to new locations and other branches.

“[It] has no relation to the global repositioning actions announced lately,” he said, referring to the staff redundancies announced by the bank last week.

The bank had said the decision was made to improve efficiency and concentrate on expansion in emerging markets.

Citibank said it had plans to expand its network in the UAE but was bound by local banking rules.

“This limits the number of branches of foreign banks operating in the country to our current branch licences,” a spokesman explained.

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

Al Ain customers are asked to use the Mussaffah branch about 100km away, and ATM machines at Al Ain and Al Jimi malls.

Cardholders and personal loan customers from Al Ain can also make payments at UAE Exchange.