Citibank launched Green Deposit last month to provide customers enhanced yield on environmentally conscious deposits. The Green Deposits are aimed at environmentally conscious consumers. Also, they are designed to reduce the impacts of climate change.
“The new fixed-term green deposit gives our clients the ability to invest their short-term liquidity in environmentally friendly projects,” Citibank said in a statement.
These deposits will benefit environmentally friendly projects. The Citi Green Bond Framework will define the criteria.
The New York based-bank issued its first green bonds last year. Citibank supplied €1 billion 3-year fixed-rate notes in Jan 2019. They were part of its $100 billion Environmental Finance Goal.
The financial offering will help move Citibank’s sh…