Citibank has opened a wholly owned subsidiary to serve corporate clients in Romania. The subsidiary, Citibank Romania, will serve global corporations and local Romanian companies and will focus initially on cash management and treasury and money-market businesses.

Citibank vice chairman William R. Rhodes said the move reflected confidence in Romania's ability to implement its economic reforms. He added that Citibank's long-term goal in Romania was to become a major local bank and an integral part of the banking system.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.