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Saudi- Euromoney presents Citigroup Bank of the Year 2015 award
(MENAFN- Arab News) RIYADH: Kingdom Holding Company (KHC) and its Chairman Prince Alwaleed bin Talal are among largest investors in Citigroup that has been given the Bank of the Year 2015 award.
The 2015 Euromoney awards for excellence report stated that Citi is the last global wholesale bank offering all products to its clients everywhere. It operates in 100 countries and boasts a payment system handling $ 3 trillion of transactions a day which no other bank is ever likely to emulate.
In May 2015 Prince Alwaleed met Mike Corbat CEO of Citigroup at the Fairmont Hotel in Seattle Washington.
In March 2015 Prince Alwaleed congratulated Corbat for passing the Federal Reserve's stress tests with highest and cleanest results among top Wall Street banks.
The prince also congratulated and thanked Corbat for increasing dividend payment from 4 cents to 20 cents per annum which is equal to 400 percent increase and initiating a buyback program of as much as $ 7.8 billion of stocks representing 5 percent of the group's market cap.
Earlier Prince Alwaleed met Corbat in 2014 at his office in Riyadh where they discussed the developments in Citigroup and future plans of the company. In July 2014 Prince Alwaleed congratulated Corbat for Citigroup's Q2 positive results.
In 2013 Prince Alwaleed was received by Corbat at the company headquarters in New York. In the same year Prince Alwaleed received Corbat at his office in Riyadh. The two discussed various topics related to their respective companies. Prince Alwaleed hosted a dinner in honor of Corbat and his wife at Kingdom Resort.
Prince Alwaleed is a prominent investor in Citigroup through KHC which operates in over 160 countries in the world since 1991 and is the largest single shareholder in the company.
In 2008 Prince Alwaleed participated in a $ 12.5 billion private offering of convertible preferred securities of Citigroup. The new direct investment was made alongside an exclusive group of leading international investors. The prince converted the preferred shares in 2009 into common shares (voting shares).
The 2015 Euromoney awards for excellence report stated that Citi is the last global wholesale bank offering all products to its clients everywhere. It operates in 100 countries and boasts a payment system handling $ 3 trillion of transactions a day which no other bank is ever likely to emulate.
In May 2015 Prince Alwaleed met Mike Corbat CEO of Citigroup at the Fairmont Hotel in Seattle Washington.
In March 2015 Prince Alwaleed congratulated Corbat for passing the Federal Reserve's stress tests with highest and cleanest results among top Wall Street banks.
The prince also congratulated and thanked Corbat for increasing dividend payment from 4 cents to 20 cents per annum which is equal to 400 percent increase and initiating a buyback program of as much as $ 7.8 billion of stocks representing 5 percent of the group's market cap.
Earlier Prince Alwaleed met Corbat in 2014 at his office in Riyadh where they discussed the developments in Citigroup and future plans of the company. In July 2014 Prince Alwaleed congratulated Corbat for Citigroup's Q2 positive results.
In 2013 Prince Alwaleed was received by Corbat at the company headquarters in New York. In the same year Prince Alwaleed received Corbat at his office in Riyadh. The two discussed various topics related to their respective companies. Prince Alwaleed hosted a dinner in honor of Corbat and his wife at Kingdom Resort.
Prince Alwaleed is a prominent investor in Citigroup through KHC which operates in over 160 countries in the world since 1991 and is the largest single shareholder in the company.
In 2008 Prince Alwaleed participated in a $ 12.5 billion private offering of convertible preferred securities of Citigroup. The new direct investment was made alongside an exclusive group of leading international investors. The prince converted the preferred shares in 2009 into common shares (voting shares).
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