Citigroup has raised over $40 billion year to date to serve Saudi clients.

Citigroup has raised more than $40 billion year-to-date to serve Saudi clients. Since the outbreak of the Iran-related conflict, the bank has increased its direct risk exposure to Saudi Arabia, continuing to bet on the country as a core growth market. Fahad Aldeweesh, Citigroup's chief country officer for Saudi Arabia, said in an interview that the U.S. bank decided to raise its internal risk exposure limit because Saudi Arabia has demonstrated "strong economic resilience and financial resilience." Despite the conflict in the region lasting more than six months and disruptions caused by Iran's attempts to block shipping through the Strait of Hormuz, Saudi Arabia remains a "highly prioritized market" for Citigroup, and there is still room for business growth.