FILE PHOTO: The Citigroup Inc logo is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. REUTERS/Chris Helgren/File Photo
The bank, which following a 13-year hiatus returned to Saudi Arabia in 2018 after being granted a capital markets licence, said last year it would also expand its direct custody and clearing services to the oil-rich kingdom. “That is something we want to participate very strongly in,” he said. “Recently we secured our direct custody and services licence and we will be growing that business.”Citigroup was among the banks that advised Saudi Aramco 2222.SE on the oil giant’s record $29.4 billion initial public offering last year and in April advised the Saudi government on a $7 billion three-tranche bond sale.
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