Citi to open R&D centre in Israel

JERUSALEM, Sept 18 (Reuters) - Citigroup intends to open a technology research and development centre in Israel in December to support its global activities, Israeli officials said on Sunday.

The U.S. bank will become the second international bank to open an R&D centre in Israel after Barclays Capital.

Israel's government has granted Citi 93 million shekels ($25 million) over five years to help finance the centre.

"Citi ... will add Israel to its portfolio of a centre of strategic innovation that will focus on the development of advanced products and applications for the capital market," Don Callahan, Citi's chief operations and technology officer, said in a joint statement with Israel's Finance and Industry ministries.

Last year, Israel's government launched a plan to try and attract financial services sector firms to Israel. (Reporting by Steven Scheer; Editing by David Hulmes)