Azerbaijan, Baku, October 5 / Trend N. Ismayilova /
A delegation of Citigroup visited Azerbaijan and confirmed its interest in opening a branch of Citibank in Azerbaijan, Rashad Orujev, the CBA head of the Department for supervision over credit institutions, said.
"A representation of the bank operates in the country. But the bank expressed interest in opening a branch even during the opening of a representative office," he said.
He said that the date of opening a branch was not discussed during the visit.
"We understand that the bank had some difficulties during the global financial crisis. But members of the delegation said that the establishment of a branch remains in force," he said.
Citigroup Inc. is the largest multinational corporation. It is one of the world's leaders in financial services. It was formed on April 7, 1998. The bank manages assets worth over $1.9 trillion. Citigroup is a primary dealer of U.S. Treasury securities.