Citigroup Is The First American Bank To Open An Office In Baghdad

Citigroup Inc (NYSE:C) is set to become the first American bank to open an office in Baghdad, with Iraq’s central bank giving its preliminary consent. The third-largest lender in the U.S., Citigroup Inc (NYSE:C) got approval from the Central Bank of Iraq. Citigroup Inc (NYSE:C) also plans to have branches at Erbil and Basra. Baghdad’s entry marks the first new country operation for Citigroup Inc (NYSE:C) in six years. The new initiative comes amidst the bank reviewing dozens of operations in about 100 countries for possible closure. The representative office will help support its corporate customers in Iraq and would…