VOL. XLVI
No 38
22-September-2003
REGIONAL BANKING
Citigroup Withdraws From Samba Management
US bank Citigroup has withdrawn from the management of Saudi American Bank (Samba) in which it holds a 20% share. The move precipitated a 3.5% fall in the Saudi stock market on the morning of 16 September. Citigroup has long experience of doing business in Saudi Arabia, opening a branch in Jiddah in 1955 and in Riyadh in 1966. However, the bank was forced to sell a majority of its shares to Saudi...
Please log in to read the rest of this story.
You may purchase access to entire
MEES digital archives by subscribing.
This subscription gives you access to all the content of MEES digital archives up to 1978!