BANKS ..

Thursday, 3 June, 2004: Citibank wants to resume business with Libya, particularly focusing on trade and project finance, as the North African state opens up after sanctions, a senior official of the U.S. bank said on Wednesday. Michel Accad, Citibank division head of the Middle East and North Africa in Cairo, told Reuters a team that visited Libya after many U.S. sanctions were lifted in late April was drawing up a business plan. He said they were at an early stage. A Libyan banker in Tripoli said Citibank was among several U.S. banks which had sent teams to discuss opportunities. He named others as American Express Bank and J.P. Morgan. [Reuters]