AMSTERDAM--(BUSINESS WIRE)--Citi (NYSE: C) has today announced the launch of its Multi-Currency Notional Pooling Capabilities in the Netherlands.
Citi has existing Multi-Currency Notional Pooling capabilities in London for its multi-national clients. By setting up capabilities in Amsterdam, Citi is now giving its clients choice and flexibility to enable them to better manage their working capital and liquidity according to their treasury models and needs.
Notional Pooling in Amsterdam allows Citi’s clients to minimize bank interest costs by notionally concentrating end of day balances across multiple accounts held with Citibank Europe plc, Netherlands Branch, into a single net amount. Citi’s clients will be able to achieve substantial liquidity, financial and operational benefits by automating the funding process, reducing bank interest costs and more efficiently using cash in their network.
The Amsterdam offering will support major global and European currencies and is built on Citi’s strategic Global Notional Pooling platform that will continue to be invested in and enhanced.
The solution can be utilized together with recently launched Citi® Virtual Accounts, which allows clients to segregate their balances under a single physical account, providing enhanced visibility, control and efficiencies through centralized payments, receivables and liquidity management.
Mark Smith, Head of Liquidity Management Services, Treasury and Trade Solutions, Citi, says: “The Netherlands is becoming an increasingly important global pooling location as we look to expand on the number of notional pooling centres globally. This new offering will provide our global clients with further optionality to match their treasury models.”
Zdenek Turek, CEO of Citibank Europe plc, adds: “The launch of Multi-Currency Notional Pooling capability in our Netherlands branch is in line with Citi’s strategy to offer full cash management capabilities from our single EU bank that has a physical presence across 22 countries in Europe and offers connectivity to Citi’s global network.”
About Citi Treasury and Trade Solutions:
Citi Treasury and Trade Solutions (TTS) enables our clients' success by providing an integrated suite of innovative and tailored cash management and trade finance services to multinational corporations, financial institutions and public sector organizations across the globe. Based on the foundation of the industry's largest proprietary network with banking licenses in over 100 countries and globally integrated technology platforms, TTS continues to lead the way in offering the industry's most comprehensive range of digitally enabled treasury, trade and liquidity management solutions.
About Citi:
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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