Citi Moves Employees from Lebanon to Turkey

(Reuters) – U.S. bank Citigroup has relocated a "very small" number of its employees from Lebanon to Turkey as tensions between Israel and Hezbollah escalate, a source familiar with the matter told Reuters on Monday.

After nearly a year of intermittent conflict, hostilities have intensified over the past month, with Israeli forces and Hezbollah militants frequently clashing.

Beirut, the capital of Lebanon and home to Citi's local office, has also faced attacks.

> "The safety and well-being of our people remains our top priority, and we have taken every measure to ensure our colleagues' safety," a spokesperson for the bank stated.

> "We continue to monitor the situation and have resources in place to support our colleagues and their families."

Citi entered Lebanon in the 1950s but withdrew in 1987 during the civil war, re-establishing its fully licensed branch in 1996. The bank provides corporate, investment banking, and lending services in Lebanon.

Citi's decision to move employees was first reported by Bloomberg News earlier on Monday.