Citigroup to work for SMEs

Citigroup India has recently launched an integrated Commercial Bank to serve the SME and MME segments. The group has also announced the appointment of Pramit Jhaveri as Citi Country Officer (CCO) of the firm’s businesses and franchise in India, who will oversee all Citi’s businesses in India, including the Institutional Clients Group, Consumer Banking and Global Cards and Wealth Management businesses. The bank has a presence in India with 42 Citibank branches across 30 cities and over 450 ATMs. With capital of over USD 3.8 billion invested, it claims to be the single largest foreign direct investor in the financial services industry in India and offers consumers and institutions a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management.