Citi Launches Multi-currency Notional Pooling Capabilities in the Netherlands
Citi has announced the launch of its multi-currency notional pooling capabilities in the Netherlands. The bank has existing multi-currency notional pooling capabilities in London for its multi-national clients. By setting up capabilities in Amsterdam, Citi says it is now giving its clients choice and flexibility to enable them to better manage their working capital and liquidity according to their treasury models and needs.
Notional pooling in Amsterdam is designed to allow Citi’s clients to minimise bank interest costs by notionally concentrating end-of-day balances across multiple accounts held with Citibank Europe, Netherlands Branch, into a single net amount. The bank says that its clients will be able to achieve substantial liquidity, financial and operational benefits by automating the funding process, reducing bank interest costs and more efficiently using cash in their network.
The Amsterdam offering will support major global and European currencies and is built on Citi’s strategic global notional pooling platform that will continue to be invested in and enhanced. The solution can be used together with the recently launched Citi Virtual Accounts, which allows clients to segregate their balances under a single physical account, providing control and efficiencies through centralised payments, receivables and liquidity management, and enhanced visibility.