Citi announces branch at GIFT-IFSC

US-based financial services firm Citi announced the launch of its branch at Gujarat International Finance Tec-City International Financial Services Centre (GIFT-IFSC) Thursday. Through the IFSC branch, the company will offer long- and short-term financing solutions to its corporate clients.

The branch will offer external commercial borrowings and trade loans, address foreign currency funding requirements of multinationals, large local corporates and financial institutions, as well as emerging mid-corporates, stated an official release.

“The opening of our IFSC branch is a critical step in our global strategy as we enhance our offerings for corporate clients. Our IFSC branch will improve client experience and turnaround times. We are keenly following the rapid developments being introduced at this dynamic financial centre and are excited for the opportunities GIFT-IFSC brings for Citi,” said Ashu Khullar, CEO, Citi India.

Citi launched its operations by booking the first loan for a marquee client, SRF Limited—a large global conglomerate.