Photo by mattbuck via Wikimedia Commons. No edits were made except for cropping the photo. License: https://creativecommons.org/licenses/by-sa/4.0/deed.en
Citi ceasing operations in Haiti
The bank said that it will voluntarily surrender its banking license.
Citi announced that it will cease its operations in Haiti and voluntarily surrender its banking license.
International banking and correspondent banking services will continue for existing clients, the bank said.
In a statement, Citi said that it made the decision as “part of a strategic business review done against client segments and market conditions.”
“Citi would like to thank its colleagues in Haiti for their dedication and exceptional performance, as well as our clients for their partnership over the years,” the bank said. Citi has maintained a presence in Haiti for over 50 years.
It also recognized “diminished international activity and lower institutional client demand in the country.”
Following the assassination of its former president in 2021, as well as the lasting impact brought on by natural disasters in the 2010s, Haiti has been suffering from intensified armed violence and ongoing political unrest.
Read Here
Advertise
Sign Up
