Haiti – Economy: Citi (Citibank) to cease operations in Haiti
09/07/2024 09:28:57
On Monday, July 8, 2024, in a press release, Citi (Citibank) announced that it will cease its operations in Haiti and « […] will continue the voluntary surrender of its banking license, with the approval of the Bank of the Republic of Haiti (BRH). However, international banking and correspondent banking services will continue to be offered to existing customers.
This difficult decision is part of a strategic review of the business conducted in relation to client segments and market conditions and was made in part due to reduced international activity and reduced demand from institutional clients in the country. This decision will not have a material economic impact on Citi or its international clients. Citi has been present in Haiti for more than 50 years and has played an important role in helping businesses, institutions, individuals and communities in the country achieve their financial goals, in addition to promoting investments and other activities that have contributed to the country’s growth. Citi has also supported NGOs providing essential services to the country during times of crisis.
[…]
Citi would like to thank our colleagues in Haiti for their dedication and exceptional performance, as well as our clients for their partnership over the years.”
HL/ HaitiLibre
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