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Citigroup’s financial institutions unit in Bahrain , with the assistance of the US trade services team in Tampa , recently acquired the Commercial Bank of Kuwait ‘s (CBK) New York-based trade business. Upon closing its New York branch on June 30, CBK needed a US bank to handle its bank-to-bank reimbursements and export letter of credit processing, and considered Wachovia and Bank of New York before transferring more than 650 items to Citigroup for processing.