Iran said Saturday that it carried out overnight drone attacks targeting branches of Citibank in Dubai and Manama, describing the strikes as retaliation for what it called earlier attacks on Iranian banking facilities.
In a statement reported by Iranian media, the Islamic Revolutionary Guard Corps said the operation targeted American banking interests in the region after “enemy aggression” against two Iranian banks.
The statement warned that if similar attacks occur again, all branches of U.S. banks across the region could become legitimate targets, signaling a potential escalation in the financial dimension of the ongoing regional confrontation.
According to Iran’s Tasnim News Agency, the Citibank branches in Dubai and Manama were struck by drones late Friday night. The report linked the action to what it described as previous strikes by the United States and Israel on financial institutions inside Iran.
On the other hand, Citigroup denied any reports of damage to Citi offices and branches, and said that "the decision to evacuate three of our buildings and to temporarily close some branches is consistent with our commitment to prioritize the safety of our colleagues. All colleagues are accounted for and are safe, and we are continuing to serve our clients."
Citigroup, the parent company of Citibank, operates a vast international banking network spanning more than 100 countries and plays a central role in global financial transactions, particularly in trade financing and U.S. dollar settlements.
The bank is also classified as a systemically important financial institution, meaning disruptions to its operations could have broader implications for global financial stability.
According to available financial data, Citigroup held approximately $2.64 trillion in total assets in 2025, placing it among the world’s largest banking institutions and ranking it as the third-largest bank in the United States by certain measures.
Separately, Iranian military authorities affiliated with Khatam al-Anbiya Central Headquarters reportedly issued a warning to residents in neighboring countries, advising them to avoid areas within one kilometer of banking facilities following the recent escalation.
The announcement comes amid rising tensions across the Middle East as the confrontation involving the United States, Israel, and Iran increasingly affects energy infrastructure, maritime routes, and financial institutions throughout the region.
Authorities in the United Arab Emirates and Bahrain have not immediately issued detailed statements regarding the reported incidents.
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