For 200 years, Citi’s role, being one of the largest banking organizations globally, has been to connect the world to its clients. In 2014 Citi Greece, the largest foreign bank in the country, celebrates 50 years of uninterrupted commitment to the country. Greece is one of the 160 countries where Citi is active by facilitating international trade and capital flows, helping consumers pursue opportunities, companies build their businesses and Governments meet their objectives.
Our Institutional Clients Group, consisting of Corporate & Investment Banking, Markets & Securities, Shipping, Private Banking, as well as Treasury & Trade Solutions and Securities & Fund Services, is a leader in each of its respective markets. Citi Greece is an active partner to the Greek Government, local Financial Institutions and large Corporate names through our Advisory, Debt & Equity Capital Markets and Derivative and Credit extension offerings. In parallel, it is an active solicitor of foreign investment in Greece and the largest recipient of institutional investor flows for trades on the Athens Exchange (no. 1 trader in ATHEX since 2008 with a market share of 13.2%). The Securities & Fund Services business is the single largest custodian in the Greek market (and has been for the past 15 years) and our Shipping franchise is among the most reputable and established names in the industry.
In 2013, as part of its broader effort to support the Greek community, Citi Greece initiated an innovative survey on Youth Employability Challenges in the current environment. The research was funded by Citi Foundation. The Applied Research Department of ALBA Graduate Business School at The American College of Greece designed and implemented the survey that aimed at composing a reliable and efficient policy recommendation to improve youth employability, which is widely recognized as a prerequisite to reverse the economic climate and navigate through the crisis. The final survey results and policy recommendations were presented in a press conference on the 12th of December 2013, and were released in the form of a brief and practical edition, and also were sent to the public and private stakeholders for further consideration and implementation.
Innovations in Greek Market
Citi Greece’s Corporate business has introduced for the first time in the Greek market a series of sophisticated innovations, such as Sovereign Financing and Hedging Solutions, Syndications, Domestic and International, High Yield bonds, Securitizations, Derivatives, Leveraged Buyout Structures, Corporate Lease and Export Agency Finance.
Citi Greece has an established and highly regarded Consumer business too, a pioneer in Wealth Management services and Credit Cards business. During its presence in Greece, there have been a number of noteworthy innovations which include introducing the ATM to the market (1985), offering 24/7 telephone banking services (1990), launching the first co-branded credit card in Greece (1997), introducing Open Architecture investments platform (2001) and providing SMS and e-mail transaction notifications (2008).
Supporting the Community
Citi Greece’s activities extend beyond the business field. Its community work unfolds
under 4 pillars:
Financial Education, with educational programs funded by Citi Foundation. In the past 10 years, 58,000 elementary school children have participated in the educational program “Economy: Knowledge with value” that is implemented by the Hellenic Children Museum, under the auspices of the Hellenic Ministry of Education. Citi Greece also supports the non profit organization Junior Achievement for the implementation of the educational & training programs Company Program, Job Shadow and Banks in Action.
Volunteerism: Citi encourages the value of volunteerism. There is high participation at Global Community Day activities, in financial education programs, as well as in other ad hoc initiatives, like the Annual Food & Clothes Drives for the needy, participation in charitable activities, etc.
Environment: The internal waste management system, reduction in energy consumption, employees’ awareness on environmental issues, tree-planting, forest and seacoast cleanup activities confirm Citi Greece’s belief in the organization’s worldwide environmental commitments.
Philanthropy: Citibank Cards through co-brands and specific programs, support the causes of various local non-profit organizations (ELPIDA, ELEPAP) with over 1million euros, contributing in building the first oncology hospital for children, and providing the cost of therapeutic swimming to the children of ELEPAP. In addition, through Diners Club Unicef card, Citi Greece has offered vaccines against measles to 14million children in the developing world through UNICEF.