Jane Fraser, CEO of Citigroup Inc. Latin America, said the bank's Argentine business, Citibank NA Sucursal establecida en la República Argentina, has grown by $3 billion since it sold its retail operations in the country about a year ago, La Nación reported.

Speaking at a business forum in the South American country, Fraser reportedly said the bank has invested at least $1 billion since selling the bank's retail assets to Banco Santander Río SA. The company's business in the country now focuses on its commercial banking and corporate and investment banking clients.

The CEO also said Citi saw a "very large appetite" for investment in the infrastructure and energy industries from both local and foreign big companies operating in Argentina.