CITIBANK LEADS A WELCOME INVASION
“The government gave us and the other foreign banks licences on January 9. We were incorporated on the same day and had our first board meeting then. We brought in $10 million of capital on January 21, and registered with the Bank Inspectorate three says after that. From that time on, technically we were allowed to function, but I think in practice we will have started doing serious business at the beginning of March.’
So said Bo Hammerich, Citibank manager, explaining how the bank arrived in Stockholm at the beginning of this year.
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