The total assets of Citibank Bulgaria, part of Citigroup Corp., currently amount to BGN 200 M, Citibank managing director for Bulgaria Plamen Ilchev announced. Ilchev assessed in positive terms the first year of the bank`s operation. According to him the bank`s online banking division is among its most successful services. 70% of settlements handled by the bank are effected electronically. The privacy of the client is guaranteed since the product is unique and used only by Citigroup and has to meet all relevant requirements in the 104 countries where the group has strewn its 3,500 offices. Citibank Bulgaria will go online on November 1, 2001. Citibank, in the fore in the Forbes rankings, is a leader not only in Euro bond issue consulting but in debt restructuring as well. Asked to comment whether the recent political changes in Bulgaria have affected the trade with instruments issued on the country`s external debt, Ilchev said that these events rather had a positive effect on the trade with such instruments and that the overriding sentiment is that the fiscal stability will be preserved. `Citibank has arrived here to stay and this proves that the economy of Bulgaria is going in the right direction`, Ilchev said.

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