Citigroup Claws Its Way Back Into Saudi Arabia

RIYADH, Saudi Arabia—When Citigroup Inc. shut down operations in Saudi Arabia after Sept. 11, 2001, government officials here felt betrayed. For years after, the Saudis snubbed Citi as executives realized they had made a mistake and tried to rebuild their business.

Two decades later, the third-biggest U.S. bank has again found favor in the kingdom as one of the foreign lenders helping Crown Prince Mohammed bin Salman modernize its oil-heavy economy.

Source: WSJ