DUBAI (Reuters) – Citigroup has big exposure to Dubai due to the optimistic growth prospects for the Gulf Arab region, Citigroup chairman Win Bischoff said on Monday.
“We have a big exposure to Dubai … lots of billions. We will continue that because it is an interesting area to be in. The business model of Dubai is not bad. The DNA is similar to other big trading hubs,” he said.
Bischoff, speaking a conference in the seaside emirate, said he expected that the financial crisis could possibly end by 2010.
“I suspect it will be over when big financial institutions have two consecutive positive earnings,” he said.