Monday, January 31, 2011

Citigroup (NYSE:C), Barclays (NYSE:BCS), HSBC (NYSE:HBC) Evacuate Workers from Egypt


Citigroup (NYSE:C), Barclays (NYSE:BCS) and HSBC (NYSE:HBC), among other financial institutions in Egypt, has evacuated non-Egyptian employees from the region for their safety.

The central bank of Egypt also ordered all banks closed on Monday, as turmoil and danger escalates.

Commenting on evacuating their people, Citigroup said they have about 600 workers in Egypt, with the majority of them being local. Foreign nationals wanting to leave Egypt were evacuated Sunday evening.

Barclays said they pulled out less than 10 of its people, and HSBC said they also pulled out a "small number" of foreign nationals working for them.

Citigroup was trading at $4.78, up $0.07, or 1.38 percent, as of 1:33PM EST.

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