The major US bank Citi is expanding further in Germany and is launching a commercial banking offering.
The institute is aimed at large medium-sized companies in this country as well as fast-growing digital companies.
Archibald Preuschat
Editor in Business
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The US bank is thus competing with German addresses such as Deutsche Bank or Commerzbank.
The major US bank, which claims to be represented in 160 countries, has made it its mission to minimize the operational complexity of cross-border payments and the associated currency risks.
As a customer, Citi is targeting companies with sales of several hundred million to several billion euros that are also active outside of Germany.
Five employees are currently available for support.
By the end of next year there should be 20 bankers, it said when asked.
Citi announced in May that it intends to expand its private banking presence in Germany and France.
The US bank gave up its private customer business in Germany in 2008 and sold it to the French Crédit Mutuel, which changed its brand to Targobank in 2010.