Citibank launches securities services capability in Morocco.CASABLANCA, Morocco--(BUSINESS WIRE)--April 10, 1996--Citibank N.A. announced today that its subsidiary in Morocco Morocco, country, Africa Morocco (mərŏk`ō), officially Kingdom of Morocco, kingdom (2005 est. pop. 32,726,000), 171,834 sq mi (445,050 sq km), NW Africa. has opened a securities services processing business. Morocco becomes the 48th country where Citibank offers securities services through its proprietary global network. Market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. on the Casablanca Stock Exchange The Casablanca Stock Exchange (French: La Bourse de Casablanca) is a small but active stock exchange in Casablanca, Morocco. at the end of 1995 was US$5 billion. There were 52 listed companies listed company n → compañía cotizable listed company n → société cotée en Bourse listed company list n → . Through Citibank Morocco, the bank will provide clients with a full range of custody and global securities clearing services. Custody services offered include settlement, safekeeping Safekeeping The storage of assets or other items of value in a protected area. Notes: Individuals may use self-directed methods of safekeeping or the services of a bank or brokerage firm. , dividend collection, corporate action notification, cash management, foreign exchange, record keeping and reporting. In an effort to meet the highest possible standards of its international clients, Citibank Morocco has undergone a rigorous review process during the past four months to prepare for the launch of its securities service capabilities. Citibank has also installed a proprietary system for the processing of securities transactions in Morocco, and branch staff members there have undergone extensive securities training. Citibank provides a complete range of cross-border custody and clearing services to institutional clients around the world. With the world's most extensive proprietary network and on-the-ground, local securities professionals, Citibank is able to provide clients with integrated, customized custody and clearing solutions. These and other strengths have helped make Citibank the leading provider of custody and clearing services in the world's emerging markets. CONTACT: Citibank Morocco Zineb zineb an antifungal preparation used extensively agriculturally but without any apparent toxicity hazard. Benhamida, 212-2-27 50 10 or Citibank N.A. Jarvis Cromwell, 203/975-6037 |
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