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Citi moves to increase lending in certain emerging markets

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Citi moves to increase lending in certain emerging markets

Citigroup Inc.will ramp up lending in emerging markets such as Turkey, the Financial Times reported April 3, citingManolo Falco, head of corporate and investment banking in Europe, the MiddleEast and Africa.

The focus comes as local lenders become less aggressive,Falco said. He clarified Citi was moving — not growing — its EMEA balance sheetto where profit margins are higher.

The FT also notedthe New York-based company has promoted Tom Isaac and Ashu Khullar to EMEAcorporate banking heads. They succeed Zdenek Turek, who, in turn, will leadCitibank Europe Plc.