Citigroup Signs Network Agreement with Egyptian Bank

Citigroup’s Global Transaction Services unit announced the signing of an agreement with The Housing and Development Bank (HDB) in Egypt which will enable Citigroup’s corporate customers in Egypt to utilize HDB’s country-wide network. Citigroup’s domestic and overseas customers will now be able to accept cash deposits, make cash payments, locally cash cheques and make remittances through the 33 HDB branches across Egypt. This will result in a more efficient service and will, in time, be extended to all of HDB’s 55 branches. Citigroup GTS EMEA has provided technical support to make this service available, which will now offer greater convenience and speed to its corporate customers and in addition, affordability to the Egyptian public. Citigroup will also be conducting training for some employees of The Housing and Development Bank, focusing on technical support and customer service.

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