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Citigroup rebuilds presence in Saudi Arabia
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RIYADH, Saudi Arabia — When Citigroup shut down operations in Saudi Arabia after 11 September 2001, government officials here felt betrayed. For years after, the Saudis snubbed Citi as executives realised they had made a mistake and tried to rebuild their business.
Two decades later, the third-biggest US bank has again found favour in the kingdom as one of the foreign lenders helping Crown Prince Mohammed bin Salman modernise its oil-heavy economy.
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