Citigroup’s Global Transaction Services unit announced Thursday it signed an agreement with The Housing and Development Bank 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 checks and make remittances through the 33 HDB branches across Egypt. In time, the banks hope to extend the agreement to all of HDB’s 55 branches.
Citigroup will also be conducting training for some employees of The Housing and Development Bank, focusing on technical support and customer service.
“We are extremely excited by this agreement with Citigroup and have worked closely with them to ensure we will be successful in offering this unique service to our marketplace,” said Fathy El Sebaai, chairman of HDB. “We look forward to further partnerships in the future”.