Citibank Romania will become a branch of Citibank Europe starting January 1, 2009 with headquarters in Ireland, a press release of the bank informs. Thus, the bank's operations will be monitored by the Irish Financial Services Regulatory Authority.

CitiBank Europe plc, Dublin - Romanian branch will still be supervised by Romania's National Central Bank in several domains, mainly does related to its liquidity and the way it runs its activities.

The transformation, implemented after a trans-national fusion, was approved by Irish and Romanian authorities. Therefore, all contracts and relations of the Romanian branch will be transferred. After the fusion, accounts and bank cards will remain the same but the new entity will continue to keep the same IBAN, SWIFT codes. However, the bank will have a new registry number in Romania.

According to EU regulations, all deposits and investments will be regulated by Irish laws.